SEB Asset Management AB Takes Position in Kinross Gold Corporation $KGC

SEB Asset Management AB acquired a new stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 414,659 shares of the mining company’s stock, valued at approximately $12,637,000.

Other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Kinross Gold during the 4th quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new position in Kinross Gold in the fourth quarter valued at approximately $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold in the third quarter valued at approximately $28,000. Ascentis Independent Advisors acquired a new position in shares of Kinross Gold in the first quarter valued at approximately $29,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after buying an additional 589 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Scotiabank dropped their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada reduced their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. UBS Group dropped their price target on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.31.

Kinross Gold Trading Down 0.3%

Shares of Kinross Gold stock opened at $22.50 on Tuesday. 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 stock has a market cap of $26.69 billion, a PE ratio of 9.53, a PEG ratio of 0.61 and a beta of 0.78. Kinross Gold Corporation has a 52-week low of $15.37 and a 52-week high of $39.11. The firm has a 50-day moving average of $26.28 and a 200-day moving average of $30.31.

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

Kinross Gold Announces Dividend

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

Kinross Gold 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.