Skandinaviska Enskilda Banken AB publ Takes $6.01 Million Position in Kinross Gold Co. (NYSE:KGC)

Skandinaviska Enskilda Banken AB publ bought a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 4th quarter, HoldingsChannel reports. The fund bought 655,600 shares of the mining company’s stock, valued at approximately $6,012,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capstone Investment Advisors LLC bought a new position in shares of Kinross Gold in the third quarter worth about $774,000. Mediolanum International Funds Ltd bought a new position in shares of Kinross Gold in the fourth quarter worth about $2,506,000. Truist Financial Corp grew its holdings in shares of Kinross Gold by 48.2% in the fourth quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock worth $2,800,000 after purchasing an additional 98,196 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after purchasing an additional 828,456 shares during the last quarter. Finally, DJE Kapital AG bought a new position in shares of Kinross Gold in the fourth quarter worth about $3,723,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KGC. CIBC upped their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $11.63.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $11.63 on Friday. The company has a market capitalization of $14.29 billion, a PE ratio of 15.10, a P/E/G ratio of 0.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The company has a 50-day simple moving average of $11.01 and a two-hundred day simple moving average of $10.15. Kinross Gold Co. has a one year low of $5.44 and a one year high of $12.28.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Research analysts expect that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.03%. Kinross Gold’s payout ratio is 15.58%.

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.