Swiss Life Asset Management Ltd Purchases 96,630 Shares of Kinross Gold Corporation $KGC

Swiss Life Asset Management Ltd grew its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 39.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 340,532 shares of the mining company’s stock after buying an additional 96,630 shares during the period. Swiss Life Asset Management Ltd’s holdings in Kinross Gold were worth $9,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp lifted its position in shares of Kinross Gold by 7.8% in the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the period. Vanguard Group Inc. lifted its position in shares of Kinross Gold by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after acquiring an additional 148,845 shares during the period. Boston Partners lifted its position in shares of Kinross Gold by 1.6% in the 3rd quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after acquiring an additional 707,498 shares during the period. Man Group plc lifted its position in shares of Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after acquiring an additional 5,411,491 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Kinross Gold by 16.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,083,320 shares of the mining company’s stock worth $349,472,000 after buying an additional 2,018,572 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 25th. TD Securities dropped their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings cut Kinross Gold from a “buy (a+)” rating to a “buy (a-)” rating in a report on Friday, May 1st. Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Trading Down 0.2%

KGC stock opened at $31.75 on Wednesday. The business has a fifty day moving average price of $31.51 and a 200 day moving average price of $30.35. Kinross Gold Corporation has a fifty-two week low of $13.28 and a fifty-two week high of $39.11. The stock has a market capitalization of $37.91 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 1.15 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the firm posted $0.30 EPS. The business’s revenue was up 60.8% on a year-over-year basis. Analysts expect that Kinross Gold Corporation will post 2.9 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is currently 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.