MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 130,497 Shares of Kinross Gold Corporation $KGC

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 1,641.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,449 shares of the mining company’s stock after buying an additional 130,497 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Kinross Gold were worth $2,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Kinross Gold by 95.7% in the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock valued at $87,639,000 after purchasing an additional 3,398,687 shares during the period. Public Employees Retirement System of Ohio raised its position in Kinross Gold by 8.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company’s stock valued at $2,204,000 after purchasing an additional 18,135 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Kinross Gold by 21.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock worth $4,076,000 after buying an additional 57,966 shares during the period. Sprott Inc. grew its position in shares of Kinross Gold by 1.7% during the 1st quarter. Sprott Inc. now owns 2,932,567 shares of the mining company’s stock worth $36,976,000 after buying an additional 48,905 shares in the last quarter. Finally, Artemis Investment Management LLP grew its position in shares of Kinross Gold by 365.8% during the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company’s stock worth $86,718,000 after buying an additional 5,400,447 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KGC. National Bankshares restated an “outperform” rating on shares of Kinross Gold in a report on Tuesday, June 24th. Raymond James Financial upgraded shares of Kinross Gold to a “hold” rating and set a $15.00 price target for the company in a report on Monday, June 30th. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. CIBC lifted their price objective on shares of Kinross Gold from $21.00 to $22.00 and gave the company an “outperformer” rating in a report on Friday, August 1st. Finally, UBS Group upped their target price on Kinross Gold from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and an average price target of $21.07.

Kinross Gold Trading Up 1.3%

NYSE:KGC opened at $23.61 on Friday. The stock has a market capitalization of $28.62 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 0.75 and a beta of 0.62. Kinross Gold Corporation has a 52 week low of $8.99 and a 52 week high of $24.91. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $19.85 and a 200 day moving average of $16.19.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. As a group, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold’s dividend payout ratio (DPR) is currently 9.68%.

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.