Forsta AP Fonden Takes Position in Kinross Gold Co. (NYSE:KGC)

Forsta AP Fonden bought a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 246,800 shares of the mining company’s stock, valued at approximately $2,315,000.

Several other large investors have also recently bought and sold shares of the business. Atlas Capital Advisors LLC acquired 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 in the first quarter valued at approximately $60,000. Bright Futures Wealth Management LLC. acquired a new stake in Kinross Gold during the first quarter worth approximately $70,000. Fifth Third Bancorp lifted its position 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. Finally, Blue Trust Inc. boosted its holdings in shares of Kinross Gold by 113.1% in the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after buying an additional 6,011 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Down 2.1 %

Kinross Gold stock opened at $10.48 on Thursday. The stock has a 50 day moving average of $9.58 and a two-hundred day moving average of $8.54. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $10.82. The stock has a market capitalization of $12.88 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 0.55 and a beta of 1.24. 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 (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. Kinross Gold’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. As a group, research analysts expect that Kinross Gold Co. will post 0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

KGC has been the topic of several research analyst reports. Jefferies Financial Group lifted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Scotiabank boosted their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, CIBC boosted their price objective on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

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.