Kinross Gold Corporation $KGC is Arbejdsmarkedets Tillaegspension’s 3rd Largest Position

Arbejdsmarkedets Tillaegspension boosted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 907,471 shares of the mining company’s stock after purchasing an additional 43,147 shares during the quarter. Kinross Gold comprises 0.7% of Arbejdsmarkedets Tillaegspension’s portfolio, making the stock its 3rd biggest holding. Arbejdsmarkedets Tillaegspension’s holdings in Kinross Gold were worth $27,696,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its position in shares of Kinross Gold by 4.7% during the fourth quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock worth $165,814,000 after purchasing an additional 261,861 shares during the last quarter. Man Group plc lifted its holdings in Kinross Gold by 7.6% during the 4th quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock valued at $352,751,000 after buying an additional 882,373 shares in the last quarter. Prospera Financial Services Inc increased its holdings in Kinross Gold by 369.0% during the 4th quarter. Prospera Financial Services Inc now owns 86,626 shares of the mining company’s stock worth $2,439,000 after purchasing an additional 68,154 shares during the period. U S Global Investors Inc. grew its holdings in Kinross Gold by 95.4% during the 1st quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock worth $5,962,000 after acquiring an additional 95,363 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Kinross Gold by 14.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,452,170 shares of the mining company’s stock worth $153,850,000 after buying an additional 692,176 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

KGC stock opened at $24.13 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The business has a 50 day simple moving average of $27.17 and a 200-day simple moving average of $30.56. The firm has a market capitalization of $28.62 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. Kinross Gold Corporation has a 1 year low of $15.10 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS. Equities research analysts anticipate that Kinross Gold Corporation will post 2.7 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is currently 6.78%.

Wall Street Analyst Weigh In

KGC has been the subject of several recent research reports. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada reduced their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Jefferies Financial Group lowered their target price on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, UBS Group reduced their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.81.

Kinross Gold Profile

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.