Allspring Global Investments Holdings LLC Has $32.62 Million Position in Kinross Gold Corporation (NYSE:KGC)

Allspring Global Investments Holdings LLC trimmed its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 26.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,588,465 shares of the mining company's stock after selling 922,894 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Kinross Gold worth $32,616,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in KGC. Norges Bank purchased a new stake in shares of Kinross Gold in the 4th quarter valued at approximately $280,697,000. Renaissance Technologies LLC raised its stake in Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after purchasing an additional 3,224,455 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Kinross Gold by 8.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock valued at $2,204,000 after purchasing an additional 18,135 shares in the last quarter. DJE Kapital AG acquired a new stake in shares of Kinross Gold in the fourth quarter worth $3,723,000. Finally, Amundi grew its holdings in shares of Kinross Gold by 9.3% during the fourth quarter. Amundi now owns 5,794,489 shares of the mining company's stock valued at $53,715,000 after buying an additional 492,611 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Up 1.7%

NYSE:KGC traded up $0.27 during mid-day trading on Friday, reaching $15.84. The stock had a trading volume of 12,114,985 shares, compared to its average volume of 18,780,675. The stock has a market cap of $19.43 billion, a P/E ratio of 16.16, a PEG ratio of 0.65 and a beta of 0.63. The business's 50 day moving average is $14.94 and its 200 day moving average is $12.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. Kinross Gold Corporation has a fifty-two week low of $7.84 and a fifty-two week high of $16.04.

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

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's dividend payout ratio is presently 12.24%.

Analyst Upgrades and Downgrades

KGC has been the subject of several research analyst reports. Scotiabank increased their price objective on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research note on Thursday, May 8th. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and upped their price objective for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Finally, BMO Capital Markets began coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $17.00.

Kinross Gold Company 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.