Nykredit A S Invests $13.32 Million in Kinross Gold Corporation $KGC

Nykredit A S acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 562,947 shares of the mining company’s stock, valued at approximately $13,324,000.

Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in Kinross Gold by 3.2% during the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock worth $262,000 after buying an additional 292 shares during the period. Caitlin John LLC boosted its position in Kinross Gold by 42.1% in the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock valued at $32,000 after buying an additional 400 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of Kinross Gold by 2.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock worth $636,000 after acquiring an additional 473 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. increased its position in shares of Kinross Gold by 0.4% during the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock worth $3,329,000 after acquiring an additional 500 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in shares of Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock valued at $629,000 after acquiring an additional 521 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

NYSE:KGC opened at $30.87 on Friday. Kinross Gold Corporation has a 12 month low of $21.61 and a 12 month high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The firm has a market capitalization of $36.57 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.85 and a beta of 0.84. The business’s fifty day moving average price is $26.38 and its 200 day moving average price is $29.01.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.Kinross Gold’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

Analysts Set New Price Targets

Several research firms recently commented on KGC. Weiss Ratings cut Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. UBS Group decreased their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Scotiabank lowered their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Finally, Zacks Research cut shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average target price of $38.43.

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.