Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Makes New Investment in Kinross Gold Co. (NYSE:KGC)

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 81,600 shares of the mining company’s stock, valued at approximately $758,000. Kinross Gold makes up about 2.2% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s portfolio, making the stock its 8th largest holding.

Other large investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Kinross Gold during the 4th quarter worth $280,697,000. Renaissance Technologies LLC boosted its holdings in shares of Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after buying an additional 3,224,455 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of Kinross Gold during the 4th quarter worth $2,506,000. Truist Financial Corp boosted its holdings in shares of Kinross Gold by 48.2% during the 4th quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock worth $2,800,000 after buying an additional 98,196 shares during the period. Finally, DJE Kapital AG bought a new stake in shares of Kinross Gold during the 4th quarter worth $3,723,000. 63.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. CIBC reissued an “outperform” rating on shares of Kinross Gold in a report on Tuesday, May 13th. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Raymond James increased their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 4th. Two analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $14.50.

Kinross Gold Trading Up 1.6%

Shares of KGC stock opened at $14.72 on Friday. Kinross Gold Co. has a 52-week low of $7.20 and a 52-week high of $15.96. The stock has a market cap of $18.11 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 0.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The firm has a fifty day moving average of $13.72 and a 200-day moving average of $11.57.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue was up 38.5% on a year-over-year basis. On average, equities research analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, May 29th. Kinross Gold’s dividend payout ratio is 12.24%.

Kinross Gold 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.