Deutsche Bank AG Buys New Holdings in Kinross Gold Corporation $KGC

Deutsche Bank AG purchased a new position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 9,221,000 shares of the mining company's stock, valued at approximately $217,800,000. Deutsche Bank AG owned 0.78% of Kinross Gold as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of KGC. Virtus Advisers LLC bought a new stake in Kinross Gold in the third quarter valued at approximately $28,000. Ascentis Independent Advisors bought a new position in shares of Kinross Gold during the 1st quarter worth approximately $29,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company's stock worth $32,000 after acquiring an additional 589 shares during the period. Elevated Capital Advisors LLC acquired a new position in shares of Kinross Gold during the 4th quarter worth approximately $36,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Kinross Gold during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, July 31st. Jefferies Financial Group dropped their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Zacks Research lowered shares of Kinross Gold from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Royal Bank Of Canada cut their target price on shares of Kinross Gold from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.43.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $27.12 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The firm has a market cap of $32.17 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 0.73 and a beta of 0.78. The stock's fifty day moving average price is $24.85 and its two-hundred day moving average price is $29.14. Kinross Gold Corporation has a one year low of $18.65 and a one year high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The company's revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. On average, equities analysts forecast that Kinross Gold Corporation will post 2.63 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.04 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.16 annualized dividend and a yield of 0.6%. Kinross Gold's payout ratio is 6.06%.

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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