29,856 Shares in Kinross Gold Corporation $KGC Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,856 shares of the mining company’s stock, valued at approximately $911,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KGC. U S Global Investors Inc. lifted its stake in shares of Kinross Gold by 95.4% in the 1st quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock valued at $5,962,000 after purchasing an additional 95,363 shares during the period. TD Asset Management Inc boosted its position in shares of Kinross Gold by 4.7% in the 4th quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock worth $165,814,000 after purchasing an additional 261,861 shares during the last quarter. Man Group plc grew its stake in shares of Kinross Gold by 7.6% during the fourth quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock worth $352,751,000 after purchasing an additional 882,373 shares during the period. Prospera Financial Services Inc grew its stake in shares of Kinross Gold by 369.0% during the fourth quarter. Prospera Financial Services Inc now owns 86,626 shares of the mining company’s stock worth $2,439,000 after purchasing an additional 68,154 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in Kinross Gold by 14.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,452,170 shares of the mining company’s stock valued at $153,850,000 after purchasing an additional 692,176 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KGC. Zacks Research lowered Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. UBS Group cut their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.31.

Kinross Gold Price Performance

Shares of KGC stock opened at $23.42 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 12-month low of $15.37 and a 12-month high of $39.11. The firm has a fifty day moving average of $26.11 and a 200-day moving average of $30.28. The firm has a market capitalization of $27.79 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.60 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS 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 the consensus estimate of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm’s revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. On average, equities research analysts forecast that Kinross Gold Corporation will post 2.65 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders 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 presently 6.78%.

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.