Skandinaviska Enskilda Banken AB publ Has $678,000 Stock Position in Kinross Gold Co. (NYSE:KGC)

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ cut its holdings in Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 165,884 shares of the mining company’s stock after selling 8,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Kinross Gold were worth $678,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its stake in Kinross Gold by 55.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 96,491 shares of the mining company’s stock valued at $395,000 after buying an additional 34,351 shares during the period. Polunin Capital Partners Ltd bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $25,846,000. Desjardins Global Asset Management Inc. bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $1,192,000. Boston Partners increased its holdings in shares of Kinross Gold by 15.4% during the fourth quarter. Boston Partners now owns 4,725,884 shares of the mining company’s stock valued at $26,064,000 after acquiring an additional 631,673 shares in the last quarter. Finally, Knowledge Leaders Capital LLC bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $86,000. 55.58% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Down 0.6 %

Shares of NYSE:KGC opened at $5.30 on Friday. The company has a market capitalization of $6.51 billion, a PE ratio of -11.28 and a beta of 0.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.47 and a quick ratio of 1.04. The business has a fifty day moving average price of $4.72 and a two-hundred day moving average price of $4.38. Kinross Gold Co. has a 1 year low of $3.00 and a 1 year high of $5.57.

Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last announced its quarterly earnings data on Tuesday, May 9th. The mining company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $929.30 million during the quarter, compared to the consensus estimate of $957.31 million. Kinross Gold had a positive return on equity of 4.58% and a negative net margin of 17.18%. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. Analysts forecast that Kinross Gold Co. will post 0.31 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a $0.03 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $0.12 dividend on an annualized basis and a yield of 2.26%. Kinross Gold’s dividend payout ratio (DPR) is presently -25.53%.

Analyst Ratings Changes

KGC has been the subject of several recent research reports. Bank of America downgraded Kinross Gold from a “buy” rating to an “underperform” rating and set a $4.70 price objective for the company. in a report on Wednesday, April 5th. TD Securities decreased their price objective on Kinross Gold from $6.50 to $6.00 and set a “buy” rating for the company in a report on Friday, February 17th. Barclays downgraded Kinross Gold from an “overweight” rating to an “equal weight” rating and set a $5.00 price objective for the company. in a report on Monday, January 30th. Raymond James upped their price target on Kinross Gold from $4.50 to $5.00 and gave the stock a “market perform” rating in a report on Tuesday, January 31st. Finally, StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.33.

About Kinross Gold

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Kinross Gold Corp. engages in the production, acquisition, exploration, and development of gold properties. Its mining operations are in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The firm operates through the following business segments: Fort Knox, Round Mountain, Bald Mountain, Kupol, Paracatu, Tasiast, Chirano, and Corporate & Other.

Further Reading

Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

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