Skandinaviska Enskilda Banken AB publ Sells 192,800 Shares of Kinross Gold Corporation (NYSE:KGC)

Key Points

• Skandinaviska Enskilda Banken AB has reduced its holdings in Kinross Gold Corporation by 29.4%, selling 192,800 shares, leaving them with a total of 462,800 shares valued at approximately $5.8 million.
• Various large investors, including Norges Bank and Man Group plc, have significantly increased their stakes in Kinross Gold, highlighting renewed interest from institutional investors with over 63% of the stock owned by them.
• Kinross Gold is experiencing positive analyst sentiment, with multiple firms raising their price targets, leading to an average rating of "Buy" and a consensus target price of $18.00, showcasing expected future growth.

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 29.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 462,800 shares of the mining company's stock after selling 192,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Kinross Gold were worth $5,836,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in Kinross Gold by 188.6% during the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after buying an additional 3,659 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in shares of Kinross Gold by 68.6% in the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after purchasing an additional 2,561 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after purchasing an additional 1,787 shares during the last quarter. Blue Trust Inc. grew its position in shares of Kinross Gold by 37.0% in the first quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock valued at $98,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Helium Advisors LLC acquired a new stake in shares of Kinross Gold in the fourth quarter valued at about $97,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Trading Up 3.4%

Shares of KGC stock traded up $0.52 on Thursday, hitting $15.94. The stock had a trading volume of 14,407,940 shares, compared to its average volume of 21,002,383. Kinross Gold Corporation has a twelve month low of $7.84 and a twelve month high of $16.52. The firm has a market cap of $19.43 billion, a P/E ratio of 16.29, a PEG ratio of 0.56 and a beta of 0.63. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average price of $15.44 and a two-hundred day moving average price of $13.46.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The company's revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. As a group, analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.12 annualized dividend and a yield of 0.75%. Kinross Gold's dividend payout ratio (DPR) is presently 12.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KGC. Scotiabank raised their price target on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and raised their price target for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. CIBC increased their target price on shares of Kinross Gold from $16.00 to $21.00 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada increased their target price on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 price target for the company in a research note on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Kinross Gold presently has an average rating of "Buy" and an average target price of $18.00.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.