Allspring Global Investments Holdings LLC Cuts Position in Kinross Gold Corporation $KGC

Allspring Global Investments Holdings LLC lowered its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,435,483 shares of the mining company’s stock after selling 152,982 shares during the period. Allspring Global Investments Holdings LLC owned about 0.20% of Kinross Gold worth $38,084,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Vanguard Personalized Indexing Management LLC lifted its position in shares of Kinross Gold by 8.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 100,316 shares of the mining company’s stock valued at $1,568,000 after acquiring an additional 7,649 shares during the period. Blue Trust Inc. raised its holdings in Kinross Gold by 87.3% during the second quarter. Blue Trust Inc. now owns 14,628 shares of the mining company’s stock worth $229,000 after purchasing an additional 6,817 shares during the last quarter. Wealthstar Advisors LLC acquired a new position in Kinross Gold during the second quarter worth $986,000. IFP Advisors Inc boosted its position in Kinross Gold by 19.1% during the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after purchasing an additional 835 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Kinross Gold by 2.0% in the second quarter. US Bancorp DE now owns 55,320 shares of the mining company’s stock valued at $865,000 after purchasing an additional 1,103 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

NYSE:KGC opened at $26.93 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The firm has a market cap of $32.65 billion, a PE ratio of 21.72, a P/E/G ratio of 0.81 and a beta of 0.64. The firm has a 50 day simple moving average of $22.29 and a 200-day simple moving average of $17.45. Kinross Gold Corporation has a 1-year low of $8.99 and a 1-year high of $27.45.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned $0.14 EPS. Kinross Gold’s revenue for the quarter was up 41.7% on a year-over-year basis. On average, equities analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 9.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. TD Securities upped their price target on shares of Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. UBS Group increased their price target on shares of Kinross Gold from $20.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Canaccord Genuity Group lifted their price objective on Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, CIBC increased their target price on Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $25.19.

About Kinross Gold

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.