Nykredit A S Makes New $13.32 Million Investment in Kinross Gold Corporation $KGC

Key Points

• Nykredit A S acquired 562,947 Kinross Gold shares during the second quarter, valued at approximately $13.32 million. Institutional investors and hedge funds collectively own 63.69% of the company.
• Kinross Gold reported quarterly earnings of $0.71 per share, exceeding analyst expectations of $0.66, while revenue rose 29.5% year over year to $2.22 billion.
• Analyst sentiment remains moderately bullish, with a consensus “Moderate Buy” rating and an average price target of $38.43, compared with the stock’s stated price of $30.87.

Nykredit A S bought a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 562,947 shares of the mining company's stock, valued at approximately $13,324,000.

A number of other hedge funds and other institutional investors have also modified their holdings of KGC. Virtus Advisers LLC acquired a new position in shares of Kinross Gold during the 3rd quarter valued at about $28,000. Ascentis Independent Advisors acquired a new stake in Kinross Gold during the first quarter worth about $29,000. Caitlin John LLC increased its position in Kinross Gold by 42.1% during the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock worth $32,000 after purchasing an additional 400 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in Kinross Gold by 85.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company's stock worth $32,000 after purchasing an additional 589 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in Kinross Gold during the third quarter worth about $38,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Price Performance

Kinross Gold stock opened at $30.87 on Friday. The company's 50 day simple moving average is $26.38 and its 200-day simple moving average is $29.01. The company has a market capitalization of $36.57 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.85 and a beta of 0.84. Kinross Gold Corporation has a 1 year low of $21.61 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter last year, the company posted $0.44 EPS. The firm's quarterly revenue was up 29.5% on a year-over-year basis. As a group, equities research analysts expect that Kinross Gold Corporation will post 2.61 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold's payout ratio is presently 6.06%.

Analysts Set New Price Targets

Several research firms have recently weighed in on KGC. Zacks Research cut shares of Kinross Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Freedom Capital raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 18th. Wall Street Zen cut Kinross Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. ATB Cormark Capital Markets upgraded Kinross Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, July 31st. Finally, Weiss Ratings downgraded Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Kinross Gold presently has a consensus rating of "Moderate Buy" and an average target price of $38.43.

About Kinross Gold

Kinross Gold Corporation NYSE: KGC is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company's activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.

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