Forsta AP Fonden Has $11.18 Million Position in Kinross Gold Corporation $KGC

Forsta AP Fonden lessened its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 716,600 shares of the mining company’s stock after selling 3,800 shares during the period. Forsta AP Fonden owned approximately 0.06% of Kinross Gold worth $11,176,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners increased its position in shares of Kinross Gold by 36.5% in the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock valued at $632,797,000 after buying an additional 12,705,061 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in Kinross Gold by 127.2% in the second quarter. AustralianSuper Pty Ltd now owns 6,107,913 shares of the mining company’s stock valued at $95,509,000 after acquiring an additional 3,419,440 shares during the period. Goldman Sachs Group Inc. grew its stake in Kinross Gold by 95.7% in the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock valued at $87,639,000 after acquiring an additional 3,398,687 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Kinross Gold by 55.8% in the first quarter. Canada Pension Plan Investment Board now owns 6,387,031 shares of the mining company’s stock worth $80,481,000 after acquiring an additional 2,288,753 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Kinross Gold by 35.5% during the first quarter. Allianz Asset Management GmbH now owns 6,947,056 shares of the mining company’s stock worth $87,510,000 after purchasing an additional 1,819,165 shares during the period. 63.69% of the stock is owned by institutional investors.

Kinross Gold Trading Down 1.9%

NYSE:KGC opened at $25.53 on Friday. The company has a market cap of $30.89 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 0.42 and a beta of 0.61. Kinross Gold Corporation has a twelve month low of $8.99 and a twelve month high of $27.84. The business has a 50 day moving average price of $24.14 and a two-hundred day moving average price of $19.03. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. As a group, analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, November 26th. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio (DPR) is presently 9.79%.

Wall Street Analyst Weigh In

KGC has been the topic of several recent analyst reports. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. UBS Group lifted their price target on shares of Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a report on Friday, October 31st. Canaccord Genuity Group raised their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Zacks Research raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Four research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $27.56.

About Kinross Gold

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.