Kinross Gold Corporation $KGC Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 231.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 610,156 shares of the mining company’s stock after acquiring an additional 426,146 shares during the period. Assenagon Asset Management S.A.’s holdings in Kinross Gold were worth $17,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. AQR Capital Management LLC raised its position in shares of Kinross Gold by 35.1% during the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after purchasing an additional 18,287 shares during the period. Caxton Associates LLP bought a new stake in shares of Kinross Gold in the 1st quarter worth approximately $158,000. Sivia Capital Partners LLC acquired a new position in Kinross Gold during the 2nd quarter valued at approximately $167,000. Creative Planning grew its stake in Kinross Gold by 16.2% during the 2nd quarter. Creative Planning now owns 112,758 shares of the mining company’s stock worth $1,762,000 after buying an additional 15,720 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in Kinross Gold by 59.0% during the 2nd quarter. Cetera Investment Advisers now owns 117,629 shares of the mining company’s stock worth $1,839,000 after buying an additional 43,650 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KGC. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Scotiabank increased their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. UBS Group set a $43.00 price objective on shares of Kinross Gold in a research report on Friday, January 30th. Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Desjardins initiated coverage on shares of Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.56.

Kinross Gold Trading Down 3.8%

Shares of KGC stock opened at $27.92 on Friday. Kinross Gold Corporation has a 1 year low of $11.12 and a 1 year high of $39.11. The firm has a market capitalization of $33.44 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.42 and a beta of 0.73. The stock has a fifty day moving average of $33.30 and a two-hundred day moving average of $28.63. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. As a group, research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio is 8.16%.

Kinross Gold Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.