Allianz Asset Management GmbH Acquires 1,395,576 Shares of Kinross Gold Corporation $KGC

Allianz Asset Management GmbH increased its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 17.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,596,638 shares of the mining company's stock after acquiring an additional 1,395,576 shares during the period. Allianz Asset Management GmbH owned about 0.81% of Kinross Gold worth $227,141,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in shares of Kinross Gold by 3.2% during the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company's stock valued at $262,000 after buying an additional 292 shares during the last quarter. Caitlin John LLC boosted its stake in shares of Kinross Gold by 42.1% in the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock worth $32,000 after buying an additional 400 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Kinross Gold by 2.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company's stock worth $636,000 after acquiring an additional 473 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its holdings in Kinross Gold by 0.4% during the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company's stock worth $3,329,000 after acquiring an additional 500 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC grew its holdings in Kinross Gold by 2.1% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company's stock worth $629,000 after acquiring an additional 521 shares during the period. Institutional investors own 63.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on KGC. Jefferies Financial Group decreased their price target on Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a report on Monday, July 6th. Freedom Capital raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. Royal Bank Of Canada cut their target price on shares of Kinross Gold from $40.00 to $39.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Wall Street Zen lowered shares of Kinross Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Zacks Research cut shares of Kinross Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kinross Gold presently has an average rating of "Moderate Buy" and an average price target of $38.43.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $30.87 on Tuesday. The firm has a market cap of $36.57 billion, a PE ratio of 11.69, a P/E/G ratio of 0.83 and a beta of 0.84. Kinross Gold Corporation has a twelve month low of $21.61 and a twelve month high of $39.11. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $26.52 and a 200 day moving average price of $28.95.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business posted $0.44 earnings per share. Kinross Gold's revenue for the quarter was up 29.5% on a year-over-year basis. Sell-side analysts predict that Kinross Gold Corporation will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio (DPR) is 6.06%.

About Kinross Gold

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.

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