Avanza Fonder AB Invests $1.20 Million in Kinross Gold Co. (NYSE:KGC)

Avanza Fonder AB acquired a new stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 129,180 shares of the mining company’s stock, valued at approximately $1,197,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KGC. Envestnet Asset Management Inc. increased its stake in Kinross Gold by 60.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 265,650 shares of the mining company’s stock worth $2,210,000 after buying an additional 99,812 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Kinross Gold by 25.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock valued at $72,867,000 after purchasing an additional 1,777,076 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Kinross Gold by 11.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 49,348 shares of the mining company’s stock worth $410,000 after purchasing an additional 5,232 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Kinross Gold in the 2nd quarter worth approximately $7,650,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in Kinross Gold during the 2nd quarter valued at approximately $190,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Trading Up 0.7 %

KGC opened at $10.31 on Monday. The stock has a 50-day moving average of $9.78 and a 200 day moving average of $9.50. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82. The firm has a market cap of $12.67 billion, a P/E ratio of 16.89, a P/E/G ratio of 0.51 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, research analysts forecast that Kinross Gold Co. will post 0.72 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.16%. Kinross Gold’s dividend payout ratio is presently 19.67%.

Analyst Ratings Changes

Several equities analysts recently weighed in on KGC shares. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group boosted their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Buy” and an average target price of $11.13.

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.