Andra AP fonden Takes Position in Kinross Gold Co. (NYSE:KGC)

Andra AP fonden purchased a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,584,200 shares of the mining company’s stock, valued at approximately $13,181,000. Andra AP fonden owned 0.13% of Kinross Gold as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in KGC. Atlas Capital Advisors LLC purchased a new position in shares of Kinross Gold in the second quarter worth about $40,000. Advisor Resource Council bought a new stake in Kinross Gold during the 1st quarter valued at $60,000. Sivia Capital Partners LLC bought a new stake in Kinross Gold during the 4th quarter valued at $63,000. Bright Futures Wealth Management LLC. bought a new position in shares of Kinross Gold in the first quarter worth $70,000. Finally, Fifth Third Bancorp grew its position in shares of Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after purchasing an additional 9,375 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

KGC has been the subject of several analyst reports. BMO Capital Markets raised their target price on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Scotiabank upped their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. CIBC raised their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group boosted their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Stock Performance

NYSE KGC opened at $9.03 on Wednesday. Kinross Gold Co. has a 52-week low of $4.32 and a 52-week high of $9.58. The company has a fifty day moving average of $8.84 and a 200-day moving average of $7.51. The company has a market capitalization of $11.09 billion, a P/E ratio of 25.07, a P/E/G ratio of 0.48 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, equities research analysts predict that Kinross Gold Co. will post 0.58 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s payout ratio is currently 33.33%.

Kinross Gold 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.