Allspring Global Investments Holdings LLC Has $88.14 Million Stake in Kinross Gold Corporation $KGC

Allspring Global Investments Holdings LLC boosted its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 3.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,882,483 shares of the mining company’s stock after buying an additional 97,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kinross Gold were worth $88,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in shares of Kinross Gold by 3.2% during the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock worth $262,000 after purchasing an additional 292 shares during the last quarter. Turning Point Benefit Group Inc. lifted its stake in Kinross Gold by 6.6% in the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after purchasing an additional 393 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Kinross Gold by 2.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock worth $636,000 after purchasing an additional 473 shares during the period. Armstrong Advisory Group Inc. increased its position in Kinross Gold by 32.9% during the fourth quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock worth $55,000 after buying an additional 483 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in Kinross Gold by 2.1% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after buying an additional 521 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Scotiabank dropped their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. Royal Bank Of Canada decreased their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Finally, Jefferies Financial Group reduced their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.31.

Kinross Gold Trading Down 1.3%

Shares of NYSE:KGC opened at $22.61 on Friday. The business’s 50 day simple moving average is $26.47 and its 200 day simple moving average is $30.34. Kinross Gold Corporation has a 1 year low of $15.29 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The company has a market capitalization of $26.82 billion, a P/E ratio of 9.58, a P/E/G ratio of 0.60 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. On average, research analysts anticipate that Kinross Gold Corporation will post 2.7 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

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

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.