Kinross Gold Corporation $KGC Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,449,667 shares of the mining company’s stock after selling 156,089 shares during the period. Allianz Asset Management GmbH’s holdings in Kinross Gold were worth $210,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Caitlin John LLC acquired a new position in Kinross Gold during the third quarter valued at $26,000. V Square Quantitative Management LLC acquired a new position in shares of Kinross Gold in the fourth quarter worth about $26,000. Financial Management Professionals Inc. acquired a new position in shares of Kinross Gold in the fourth quarter worth about $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold in the third quarter worth about $28,000. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after acquiring an additional 589 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

NYSE:KGC opened at $25.24 on Wednesday. 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 firm has a market capitalization of $30.10 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.91 and a beta of 0.71. The company’s 50-day moving average is $30.57 and its two-hundred day moving average is $30.95. Kinross Gold Corporation has a 1-year low of $14.71 and a 1-year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results 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 company 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%. Kinross Gold’s revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. Analysts forecast that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s payout ratio is presently 6.78%.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of research reports. 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 note on Friday, March 27th. Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and an average 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.