Kinross Gold Corporation $KGC Shares Purchased by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich raised its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 266.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 473,741 shares of the mining company’s stock after acquiring an additional 344,495 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Kinross Gold were worth $14,437,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of KGC. V Square Quantitative Management LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth about $26,000. Financial Management Professionals Inc. acquired a new position in shares of Kinross Gold in the fourth quarter valued at approximately $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold in the third quarter valued at approximately $28,000. Ascentis Independent Advisors purchased a new stake in Kinross Gold during the 1st quarter worth approximately $29,000. Finally, Harvest Fund Management Co. Ltd increased its stake in Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after buying an additional 589 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Down 3.4%

Shares of Kinross Gold stock opened at $23.07 on Thursday. 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 $15.04 and a 52-week high of $39.11. The company has a market capitalization of $27.43 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.85 and a beta of 0.78. The company has a 50 day moving average of $27.41 and a 200 day moving average of $30.63.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, research analysts forecast that Kinross Gold Corporation will post 2.89 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. Kinross Gold’s payout ratio is presently 6.78%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. UBS Group reduced their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $36.00 to $45.00 in a report on Thursday, March 12th. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Finally, ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.56.

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.