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

Forsta AP Fonden acquired a new position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 246,800 shares of the mining company's stock, valued at approximately $2,315,000.

Several other hedge funds also recently added to or reduced their stakes in KGC. Atlas Capital Advisors LLC acquired a new position in Kinross Gold during the second quarter worth $40,000. Advisor Resource Council acquired a new position in Kinross Gold in the 1st quarter valued at about $60,000. Bright Futures Wealth Management LLC. purchased a new stake in Kinross Gold during the first quarter worth about $70,000. Fifth Third Bancorp lifted its position in shares of Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company's stock worth $80,000 after purchasing an additional 9,375 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Kinross Gold by 113.1% in the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company's stock valued at $94,000 after purchasing an additional 6,011 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of KGC stock traded down $0.40 during mid-day trading on Thursday, hitting $10.08. The stock had a trading volume of 17,783,695 shares, compared to its average volume of 15,252,151. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The company's 50-day simple moving average is $9.58 and its 200-day simple moving average is $8.54. The firm has a market cap of $12.39 billion, a PE ratio of 25.56, a PEG ratio of 0.55 and a beta of 1.24.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share 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 business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the company posted $0.14 EPS. The business's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Kinross Gold Co. will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. CIBC raised their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. StockNews.com downgraded shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, September 25th. Finally, Scotiabank boosted their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.50.

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.