Erste Asset Management GmbH Boosts Position in Kinross Gold Corporation $KGC

Erste Asset Management GmbH boosted its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 64.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 193,920 shares of the mining company’s stock after buying 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.

Several other hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in Kinross Gold by 7.8% in the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock valued at $2,682,791,000 after buying an additional 7,825,336 shares during the period. Vanguard Group Inc. raised its holdings in Kinross Gold by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock valued at $1,433,345,000 after buying an additional 148,845 shares during the period. Boston Partners raised its holdings in Kinross Gold by 1.6% in the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock valued at $1,133,463,000 after buying an additional 707,498 shares during the period. Norges Bank purchased a new position in Kinross Gold in the fourth quarter valued at approximately $518,656,000. Finally, Man Group plc raised its holdings in Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after buying an additional 5,411,491 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Down 2.4%

Shares of NYSE:KGC opened at $25.24 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 52-week low of $14.71 and a 52-week high of $39.11. The company has a 50 day moving average of $30.57 and a two-hundred day moving average of $30.95. The company has a market capitalization of $30.10 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 0.91 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company earned $0.30 earnings per share. Kinross Gold’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, analysts forecast that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on KGC shares. TD Securities cut their price target 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. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, Royal Bank Of Canada raised shares of 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 research report on Thursday, March 12th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.81.

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.