Assenagon Asset Management S.A. Sells 22,124 Shares of Kinross Gold Corporation $KGC

Key Points

• Assenagon Asset Management S.A. sold 22,124 shares of Kinross Gold Corporation, reducing its stake by 10.5% to 188,379 shares, valued at approximately $2.93 million.
• Kinross Gold's most recent earnings report showed a profit of $0.44 per share, beating estimates, with revenue rising 41.7% year-over-year to $1.75 billion.
• The company declared a quarterly dividend of $0.03 per share, with a total annualized dividend yield of 0.5%.

Assenagon Asset Management S.A. decreased its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 10.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188,379 shares of the mining company's stock after selling 22,124 shares during the period. Assenagon Asset Management S.A.'s holdings in Kinross Gold were worth $2,935,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Fulton Bank N.A. raised its position in shares of Kinross Gold by 3.8% in the 2nd quarter. Fulton Bank N.A. now owns 45,082 shares of the mining company's stock worth $705,000 after acquiring an additional 1,653 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Kinross Gold by 19.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,935 shares of the mining company's stock worth $475,000 after purchasing an additional 4,931 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Kinross Gold in the second quarter valued at approximately $167,000. Baron Wealth Management LLC boosted its holdings in shares of Kinross Gold by 65.1% during the 2nd quarter. Baron Wealth Management LLC now owns 21,084 shares of the mining company's stock worth $330,000 after buying an additional 8,311 shares in the last quarter. Finally, First Hawaiian Bank boosted its holdings in shares of Kinross Gold by 36.8% during the 1st quarter. First Hawaiian Bank now owns 45,598 shares of the mining company's stock worth $575,000 after buying an additional 12,261 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Up 1.3%

Shares of NYSE KGC opened at $23.61 on Friday. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $24.91. The firm's 50-day simple moving average is $19.85 and its 200 day simple moving average is $16.19. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company has a market cap of $28.62 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The company's revenue was up 41.7% on a year-over-year basis. On average, research analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.03 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.5%. Kinross Gold's dividend payout ratio (DPR) is currently 9.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on KGC. Canaccord Genuity Group lifted their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research note on Thursday, August 7th. Zacks Research downgraded shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Royal Bank Of Canada upped their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen downgraded Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 20th. Finally, Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and boosted their target price for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.07.

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.

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