Deutsche Bank AG Acquires 359,461 Shares of Kinross Gold Corporation (NYSE:KGC)

Deutsche Bank AG raised its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,098,322 shares of the mining company’s stock after acquiring an additional 359,461 shares during the period. Deutsche Bank AG owned about 0.41% of Kinross Gold worth $64,290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of Kinross Gold in the first quarter worth approximately $55,000. Farther Finance Advisors LLC grew its holdings in shares of Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock worth $71,000 after purchasing an additional 3,659 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Kinross Gold by 68.6% in the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company’s stock worth $79,000 after purchasing an additional 2,561 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock valued at $80,000 after acquiring an additional 1,787 shares in the last quarter. Finally, Helium Advisors LLC bought a new stake in Kinross Gold in the fourth quarter valued at $97,000. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $19.11 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $23.28 billion, a P/E ratio of 15.41, a P/E/G ratio of 0.63 and a beta of 0.55. The business has a fifty day simple moving average of $15.94 and a two-hundred day simple moving average of $13.92. Kinross Gold Corporation has a 12 month low of $8.31 and a 12 month high of $19.25.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.11. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%. Kinross Gold’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. On average, equities analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 21st. Kinross Gold’s payout ratio is currently 9.68%.

Analyst Ratings Changes

Several analysts recently weighed in on KGC shares. BMO Capital Markets started coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Canaccord Genuity Group lifted their price target on shares of Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. Jefferies Financial Group upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating and lifted their price target for the company from $14.00 to $18.00 in a report on Thursday, June 26th. UBS Group started coverage on shares of Kinross Gold in a report on Monday, August 4th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Royal Bank Of Canada lifted their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $20.07.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.