MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its stake in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 95.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,952 shares of the mining company's stock after selling 177,267 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Kinross Gold were worth $100,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in KGC. Norges Bank purchased a new stake in Kinross Gold in the fourth quarter worth approximately $280,697,000. Man Group plc grew its stake in shares of Kinross Gold by 174.2% during the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock valued at $85,685,000 after buying an additional 5,871,904 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Kinross Gold by 80.9% in the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company's stock worth $116,898,000 after buying an additional 5,639,383 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new stake in Kinross Gold during the 4th quarter valued at about $23,765,000. Institutional investors own 63.69% of the company's stock.
Kinross Gold Stock Down 1.4%
Shares of KGC stock traded down $0.23 during trading hours on Monday, hitting $15.57. 24,782,315 shares of the company's stock traded hands, compared to its average volume of 18,704,334. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 0.68 and a beta of 0.63. The stock's fifty day simple moving average is $14.57 and its two-hundred day simple moving average is $12.15. Kinross Gold Co. has a 12-month low of $7.20 and a 12-month high of $15.96.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released 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. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The company's revenue for the quarter was up 38.5% compared to the same quarter last year. On average, analysts expect that Kinross Gold Co. will post 0.81 EPS for the current year.
Kinross Gold Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's payout ratio is 12.24%.
Wall Street Analyst Weigh In
KGC has been the subject of several recent research reports. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research report on Wednesday, April 23rd. Stifel Canada upgraded Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Raymond James lifted their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a report on Friday, April 4th. National Bank Financial upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. Finally, Royal Bank of Canada boosted their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $15.40.
Check Out Our Latest Analysis on KGC
About Kinross Gold
(
Free Report)
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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