Kinross Gold Corporation (NYSE:KGC) Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its holdings of Kinross Gold Corporation by 7.6%, owning approximately 5,098,322 shares worth $64.29 million after acquiring an additional 359,461 shares.
• Kinross Gold recently reported $0.44 earnings per share (EPS), exceeding consensus estimates, with revenue of $1.75 billion, marking a 41.7% increase year-over-year.
• The company announced a quarterly dividend of $0.03, translating to an annualized dividend yield of 0.6%, set to be paid to shareholders on September 4th.

Deutsche Bank AG lifted its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,098,322 shares of the mining company's stock after buying an additional 359,461 shares during the quarter. Deutsche Bank AG owned about 0.41% of Kinross Gold worth $64,290,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KGC. Wells Fargo & Company MN lifted its position in shares of Kinross Gold by 5.9% during the 4th quarter. Wells Fargo & Company MN now owns 529,328 shares of the mining company's stock worth $4,907,000 after buying an additional 29,677 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Kinross Gold by 241.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,706,637 shares of the mining company's stock worth $15,821,000 after buying an additional 1,206,251 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Kinross Gold during the 4th quarter worth approximately $339,000. Raymond James Financial Inc. acquired a new position in shares of Kinross Gold in the 4th quarter valued at $6,842,000. Finally, Bessemer Group Inc. increased its holdings in shares of Kinross Gold by 19,099.1% in the 4th quarter. Bessemer Group Inc. now owns 42,622 shares of the mining company's stock valued at $395,000 after acquiring an additional 42,400 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. BMO Capital Markets started coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Canaccord Genuity Group boosted 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. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Finally, UBS Group started coverage on shares of Kinross Gold in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Kinross Gold has an average rating of "Buy" and a consensus target price of $20.07.

Kinross Gold Price Performance

Shares of NYSE:KGC traded down $0.27 on Wednesday, reaching $19.06. 20,953,477 shares of the company were exchanged, compared to its average volume of 19,404,612. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a 1-year low of $8.31 and a 1-year high of $19.45. The firm has a market cap of $23.16 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.64 and a beta of 0.55. The company has a 50-day moving average of $16.08 and a 200-day moving average of $14.00.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm's revenue was up 41.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 EPS. Equities analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 21st. Kinross Gold's dividend payout ratio is presently 9.68%.

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.