Andra AP fonden Decreases Stock Holdings in Kinross Gold Corporation $KGC

Andra AP fonden reduced its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 43.2% during the first quarter, HoldingsChannel.com reports. The fund owned 788,972 shares of the mining company’s stock after selling 599,728 shares during the quarter. Andra AP fonden’s holdings in Kinross Gold were worth $24,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Kinross Gold by 35.1% during the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock valued at $887,000 after purchasing an additional 18,287 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Kinross Gold in the 1st quarter worth about $158,000. Sivia Capital Partners LLC bought a new position in Kinross Gold during the second quarter valued at about $167,000. M&T Bank Corp grew its position in Kinross Gold by 9.0% during the second quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock valued at $252,000 after buying an additional 1,328 shares during the period. Finally, AXA S.A. purchased a new stake in Kinross Gold during the second quarter worth about $2,483,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on KGC. Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. UBS Group decreased 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 note on Tuesday, June 30th. Royal Bank Of Canada lowered their price target on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Finally, Zacks Research downgraded Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.31.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $22.50 on Tuesday. The firm has a market capitalization of $26.69 billion, a PE ratio of 9.53, a P/E/G ratio of 0.61 and a beta of 0.78. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $26.28 and a two-hundred day moving average price of $30.31. Kinross Gold Corporation has a twelve month low of $15.37 and a twelve month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Equities analysts forecast that Kinross Gold Corporation will post 2.65 EPS for the current year.

Kinross Gold Announces Dividend

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

Kinross Gold Company 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.