Allianz Asset Management GmbH Increases Position in Kinross Gold Corporation (NYSE:KGC)

Allianz Asset Management GmbH lifted its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 35.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,947,056 shares of the mining company's stock after acquiring an additional 1,819,165 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.56% of Kinross Gold worth $87,510,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KGC. Norges Bank bought a new position in Kinross Gold during the 4th quarter worth $280,697,000. Man Group plc raised its position in shares of Kinross Gold by 174.2% in the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock worth $85,685,000 after acquiring an additional 5,871,904 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of Kinross Gold by 365.8% in the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock worth $86,718,000 after acquiring an additional 5,400,447 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock worth $304,633,000 after acquiring an additional 3,224,455 shares in the last quarter. Finally, AustralianSuper Pty Ltd bought a new position in shares of Kinross Gold in the 1st quarter worth about $33,877,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Stock Up 0.4%

Kinross Gold stock traded up $0.07 during midday trading on Friday, reaching $15.91. The stock had a trading volume of 13,533,798 shares, compared to its average volume of 20,935,141. Kinross Gold Corporation has a 12 month low of $7.84 and a 12 month high of $16.52. The company has a market capitalization of $19.51 billion, a P/E ratio of 16.24, a PEG ratio of 0.60 and a beta of 0.63. The company has a fifty day moving average price of $15.31 and a two-hundred day moving average price of $13.31. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The company's revenue for the quarter was up 38.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. As a group, equities analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's dividend payout ratio is currently 12.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on KGC shares. Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a research report on Monday, June 30th. Royal Bank Of Canada lifted their price objective on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. CIBC lifted their price objective on Kinross Gold from $16.00 to $21.00 and gave the stock an "outperformer" rating in a research report on Tuesday, July 15th. Scotiabank lifted their price objective on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 8th. Finally, Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $18.00.

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.