APG Asset Management N.V. Trims Position in Kinross Gold Co. (NYSE:KGC)

APG Asset Management N.V. reduced its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 6.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,206,920 shares of the mining company’s stock after selling 223,102 shares during the period. APG Asset Management N.V. owned about 0.26% of Kinross Gold worth $24,907,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Atlas Capital Advisors LLC purchased a new position in shares of Kinross Gold during the 2nd quarter worth about $40,000. Advisor Resource Council purchased a new position in Kinross Gold during the first quarter worth approximately $60,000. Sivia Capital Partners LLC acquired a new position in shares of Kinross Gold in the 4th quarter valued at $63,000. Bright Futures Wealth Management LLC. purchased a new stake in shares of Kinross Gold during the 1st quarter valued at $70,000. Finally, Fifth Third Bancorp increased its holdings in shares of Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after buying an additional 9,375 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KGC. CIBC lifted their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Scotiabank raised their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group lifted their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Trading Down 3.5 %

NYSE KGC opened at $9.46 on Friday. The stock has a market cap of $11.63 billion, a P/E ratio of 26.28, a PEG ratio of 0.55 and a beta of 1.23. The company’s fifty day simple moving average is $9.03 and its 200-day simple moving average is $7.88. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Kinross Gold Co. has a 52 week low of $4.32 and a 52 week high of $10.10.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business posted $0.14 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts predict that Kinross Gold Co. will post 0.6 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.27%. Kinross Gold’s dividend payout ratio is presently 33.33%.

Kinross Gold Profile

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.