DekaBank Deutsche Girozentrale Sells 31,497 Shares of Kinross Gold Corporation $KGC

DekaBank Deutsche Girozentrale decreased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 3.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 852,306 shares of the mining company’s stock after selling 31,497 shares during the period. DekaBank Deutsche Girozentrale owned 0.07% of Kinross Gold worth $12,777,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in KGC. Janney Montgomery Scott LLC boosted its holdings in Kinross Gold by 28.6% in the first quarter. Janney Montgomery Scott LLC now owns 100,505 shares of the mining company’s stock worth $1,267,000 after acquiring an additional 22,354 shares in the last quarter. Blue Trust Inc. increased its stake in Kinross Gold by 37.0% during the 1st quarter. Blue Trust Inc. now owns 7,811 shares of the mining company’s stock valued at $98,000 after purchasing an additional 2,110 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Kinross Gold by 18.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 130,730 shares of the mining company’s stock valued at $1,649,000 after purchasing an additional 19,987 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Kinross Gold during the 1st quarter valued at about $147,000. Finally, Strategic Investment Advisors MI purchased a new stake in shares of Kinross Gold during the first quarter valued at approximately $239,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Thursday. UBS Group lifted their price objective on Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Canaccord Genuity Group raised their price target on shares of Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. CIBC raised their price target on shares of Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, Jefferies Financial Group upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating and increased their price objective for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $27.56.

Kinross Gold Trading Up 1.3%

Shares of KGC stock opened at $23.86 on Friday. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $27.84. The firm has a fifty day moving average price of $22.98 and a 200-day moving average price of $17.97. 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 company has a market cap of $28.93 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 0.47 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business earned $0.14 earnings per share. Kinross Gold’s quarterly revenue was up 41.7% compared to the same quarter last year. As a group, equities analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors 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 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.