Kinross Gold Corporation $KGC Shares Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH raised its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 64.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,920 shares of the mining company’s stock after purchasing an additional 76,020 shares during the period. Erste Asset Management GmbH’s holdings in Kinross Gold were worth $5,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Caitlin John LLC purchased a new position in Kinross Gold in the 3rd quarter valued at about $26,000. V Square Quantitative Management LLC purchased a new position in Kinross Gold in the 4th quarter valued at about $26,000. Financial Management Professionals Inc. purchased a new position in Kinross Gold in the 4th quarter valued at about $26,000. Virtus Advisers LLC purchased a new position in Kinross Gold in the 3rd quarter valued at about $28,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on KGC shares. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $36.00 to $45.00 in a report on Thursday, March 12th. TD Securities reduced their target price on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, UBS Group cut their price objective on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Trading Down 2.4%

Shares of KGC stock opened at $25.24 on Wednesday. The firm has a market cap of $30.10 billion, a P/E ratio of 10.69, a PEG ratio of 0.91 and a beta of 0.71. Kinross Gold Corporation has a 1-year low of $14.71 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 firm’s 50-day simple moving average is $30.57 and its 200-day simple moving average is $30.95.

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, topping the consensus estimate of $0.68 by $0.03. The business 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 was up 60.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. As a group, equities analysts forecast that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Announces Dividend

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