Andra AP fonden Purchases Shares of 1,584,200 Kinross Gold Co. (NYSE:KGC)

Andra AP fonden acquired a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 1,584,200 shares of the mining company’s stock, valued at approximately $13,181,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Kinross Gold in the 4th quarter worth approximately $320,000. Truist Financial Corp raised its holdings in Kinross Gold by 68.6% during the 4th quarter. Truist Financial Corp now owns 47,457 shares of the mining company’s stock valued at $287,000 after buying an additional 19,317 shares during the last quarter. SCP Investment LP boosted its position in Kinross Gold by 255.3% during the 4th quarter. SCP Investment LP now owns 66,800 shares of the mining company’s stock valued at $379,000 after buying an additional 48,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in Kinross Gold by 33.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,319,428 shares of the mining company’s stock worth $32,183,000 after acquiring an additional 1,336,756 shares during the last quarter. Finally, Boston Partners increased its position in shares of Kinross Gold by 44.0% in the fourth quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock valued at $102,236,000 after acquiring an additional 5,162,124 shares during the period. Institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on KGC. Scotiabank increased 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. BMO Capital Markets increased their price objective on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. CIBC boosted their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group upped their target price on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

Kinross Gold Stock Up 5.9 %

Shares of NYSE:KGC opened at $9.03 on Wednesday. The firm 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. The stock has a 50 day moving average price of $8.84 and a 200-day moving average price of $7.51. Kinross Gold Co. has a 52-week low of $4.32 and a 52-week high of $9.58.

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

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend 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.