Kinross Gold Corporation $KGC Shares Bought by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR has increased its stake in Kinross Gold by 18.6%, holding 112,655 shares valued at approximately $1.76 million following a quarterly acquisition.
• Kinross Gold reported earnings of $0.44 per share, exceeding estimates and reflecting a significant 41.7% revenue increase year-over-year, reaching $1.75 billion.
• The stock has experienced volatility, opening at $25.10 with a 9% decrease recently, despite an overall market cap of $30.43 billion.

Generali Asset Management SPA SGR lifted its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 18.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,655 shares of the mining company's stock after acquiring an additional 17,707 shares during the quarter. Generali Asset Management SPA SGR's holdings in Kinross Gold were worth $1,761,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Kinross Gold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company's stock worth $603,829,000 after acquiring an additional 561,563 shares in the last quarter. Boston Partners boosted its stake in shares of Kinross Gold by 36.5% during the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock worth $632,797,000 after acquiring an additional 12,705,061 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kinross Gold by 6.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,022,770 shares of the mining company's stock worth $126,378,000 after acquiring an additional 603,388 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Kinross Gold by 95.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company's stock worth $87,639,000 after acquiring an additional 3,398,687 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Kinross Gold by 35.5% during the 1st quarter. Allianz Asset Management GmbH now owns 6,947,056 shares of the mining company's stock worth $87,510,000 after acquiring an additional 1,819,165 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Down 9.0%

Shares of NYSE KGC opened at $25.10 on Friday. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $27.84. The stock has a market cap of $30.43 billion, a PE ratio of 20.24, a P/E/G ratio of 0.88 and a beta of 0.64. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $22.58 and a 200 day moving average of $17.64.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $1.52 billion. During the same quarter in the prior year, the company earned $0.14 EPS. Kinross Gold's revenue was up 41.7% compared to the same quarter last year. As a group, sell-side analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KGC. Raymond James Financial increased their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a "market perform" rating in a research note on Friday, October 10th. UBS Group upped their price target on shares of Kinross Gold from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. CIBC upped their price target on shares of Kinross Gold from $22.00 to $36.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. Finally, Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and upped their price target for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $25.69.

About Kinross Gold

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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