Assenagon Asset Management S.A. Has $37.97 Million Position in Kinross Gold Corporation $KGC

Assenagon Asset Management S.A. increased its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 103.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,244,228 shares of the mining company’s stock after acquiring an additional 634,072 shares during the period. Assenagon Asset Management S.A.’s holdings in Kinross Gold were worth $37,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Caitlin John LLC bought a new stake in shares of Kinross Gold in the 3rd quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new stake in Kinross Gold in the fourth quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold in the fourth quarter worth approximately $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold during the 3rd quarter worth $28,000. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 0.9%

KGC stock opened at $24.25 on Friday. Kinross Gold Corporation has a 1-year low of $14.71 and a 1-year high of $39.11. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $28.88 and its 200-day moving average is $30.81. The firm has a market cap of $28.83 billion, a P/E ratio of 10.28, a P/E/G ratio of 0.85 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. Equities analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 6.78%.

Analysts Set New Price Targets

Several research firms have commented on KGC. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. UBS Group decreased their price target on Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $45.00 in a report on Thursday, March 12th. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Finally, ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned 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 $38.81.

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.