Skandinaviska Enskilda Banken AB publ Sells 192,800 Shares of Kinross Gold Corporation (NYSE:KGC)

Skandinaviska Enskilda Banken AB publ reduced its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 29.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 462,800 shares of the mining company’s stock after selling 192,800 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Kinross Gold were worth $5,836,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KGC. Norges Bank bought a new position in shares of Kinross Gold in the 4th quarter worth $280,697,000. Man Group plc lifted its holdings in shares of Kinross Gold by 174.2% in the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock worth $85,685,000 after purchasing an additional 5,871,904 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Kinross Gold by 365.8% in the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company’s stock worth $86,718,000 after purchasing an additional 5,400,447 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after purchasing an additional 3,224,455 shares in the last quarter. Finally, AustralianSuper Pty Ltd bought a new position in shares of Kinross Gold in the 1st quarter worth $33,877,000. 63.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KGC shares. CIBC increased their price target on Kinross Gold from $16.00 to $21.00 and gave the company an “outperformer” rating in a research report on Tuesday, July 15th. Raymond James Financial raised Kinross Gold to a “hold” rating and set a $15.00 price target for the company in a research report on Monday, June 30th. National Bankshares reissued an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Royal Bank Of Canada increased their price target on Kinross Gold from $14.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Finally, Scotiabank increased their price target on Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.00.

Kinross Gold Trading Up 1.8%

Shares of Kinross Gold stock opened at $16.13 on Monday. Kinross Gold Corporation has a 1 year low of $7.84 and a 1 year high of $16.52. The firm has a market cap of $19.78 billion, a PE ratio of 16.45, a P/E/G ratio of 0.56 and a beta of 0.63. The stock has a fifty day moving average price of $15.35 and a 200-day moving average price of $13.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm posted $0.10 EPS. The business’s revenue was up 38.5% compared to the same quarter last year. Equities research analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold’s dividend payout ratio is presently 12.24%.

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.