Allianz Asset Management GmbH Sells 156,089 Shares of Kinross Gold Corporation $KGC

Allianz Asset Management GmbH cut its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,449,667 shares of the mining company's stock after selling 156,089 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.62% of Kinross Gold worth $210,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of Kinross Gold by 7.8% during the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company's stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the period. Vanguard Group Inc. increased its position in shares of Kinross Gold by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company's stock worth $1,433,345,000 after acquiring an additional 148,845 shares during the period. Boston Partners increased its position in shares of Kinross Gold by 1.6% during the third quarter. Boston Partners now owns 45,120,345 shares of the mining company's stock worth $1,133,463,000 after acquiring an additional 707,498 shares during the period. Norges Bank purchased a new position in Kinross Gold during the fourth quarter valued at approximately $518,656,000. Finally, Man Group plc increased its holdings in Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company's stock valued at $261,646,000 after buying an additional 5,411,491 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

NYSE KGC opened at $25.24 on Wednesday. The firm's fifty day simple moving average is $30.57 and its two-hundred day simple moving average is $30.95. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12-month low of $14.71 and a 12-month high of $39.11. The firm has a market capitalization of $30.10 billion, a P/E ratio of 10.69, a P/E/G ratio of 0.91 and a beta of 0.71.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The business's revenue for the quarter was up 60.8% on a year-over-year basis. Analysts forecast that Kinross Gold Corporation will post 2.91 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold's payout ratio is currently 6.78%.

Analyst Upgrades and Downgrades

KGC has been the topic of several research reports. Weiss Ratings lowered shares of Kinross Gold from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. TD Securities cut their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. ATB Cormark Capital Markets raised shares of Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, May 1st. UBS Group cut their price objective on shares of Kinross Gold from $43.00 to $37.00 and set a "buy" rating on the stock in a report on Friday, March 27th. Finally, Royal Bank Of Canada raised shares of Kinross Gold from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $36.00 to $45.00 in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Kinross Gold currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.81.

Kinross Gold Company Profile

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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