Kinross Gold Corporation $KGC Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,785,483 shares of the mining company’s stock after acquiring an additional 50,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kinross Gold were worth $78,459,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp increased its stake in Kinross Gold by 7.8% in the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock valued at $2,682,791,000 after purchasing an additional 7,825,336 shares in the last quarter. Man Group plc boosted its position in Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after purchasing an additional 5,411,491 shares in the last quarter. Bank of America Corp DE grew its holdings in Kinross Gold by 81.2% in the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after purchasing an additional 3,617,320 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Kinross Gold in the third quarter valued at $80,299,000. Finally, AustralianSuper Pty Ltd increased its position in shares of Kinross Gold by 50.6% in the third quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock valued at $228,227,000 after buying an additional 3,089,959 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Ratings Changes

KGC has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. UBS Group cut their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $36.00 to $45.00 in a report on Thursday, March 12th. Finally, Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $30.51 on Wednesday. The company has a 50-day simple moving average of $32.98 and a 200-day simple moving average of $28.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. The company has a market cap of $36.54 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.40 and a beta of 0.73. Kinross Gold Corporation has a 12 month low of $11.12 and a 12 month high of $39.11.

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

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Wednesday, March 11th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date was Wednesday, March 11th. Kinross Gold’s dividend payout ratio (DPR) is currently 8.16%.

Kinross Gold Company 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.