Arbejdsmarkedets Tillaegspension Invests $24.34 Million in Kinross Gold Corporation $KGC

Arbejdsmarkedets Tillaegspension bought a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 864,324 shares of the mining company’s stock, valued at approximately $24,339,000.

A number of other hedge funds have also modified their holdings of the business. Van ECK Associates Corp grew its position in shares of Kinross Gold by 7.8% during the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Kinross Gold by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after acquiring an additional 148,845 shares during the last quarter. Boston Partners grew its position in shares of Kinross Gold by 1.6% during the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after acquiring an additional 707,498 shares during the last quarter. Man Group plc grew its position in Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after buying an additional 5,411,491 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Kinross Gold by 16.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,083,320 shares of the mining company’s stock valued at $349,472,000 after buying an additional 2,018,572 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

Kinross Gold stock opened at $30.91 on Friday. Kinross Gold Corporation has a one year low of $13.34 and a one year high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The business has a fifty day moving average of $31.34 and a two-hundred day moving average of $30.45. The company has a market cap of $36.86 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.13 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company earned $0.30 earnings per share. Kinross Gold’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, analysts predict that Kinross Gold Corporation will post 2.9 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is 6.78%.

Analyst Ratings Changes

KGC has been the topic of a number of analyst reports. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. Weiss Ratings lowered shares of Kinross Gold from a “buy (a+)” rating to a “buy (a-)” rating in a research report on Friday, May 1st. UBS Group lowered their price objective on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Scotiabank lifted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and an average price target of $38.81.

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.