Munich Reinsurance Co Stock Corp in Munich Boosts Stock Position in Kinross Gold Corporation $KGC

Key Points

• Munich Reinsurance Co Stock Corp significantly boosted its Kinross Gold stake by 266.5% in Q1, buying an additional 344,495 shares and bringing its total to 473,741 shares worth about $14.4 million.
• Kinross Gold reported stronger-than-expected quarterly earnings of $0.71 per share, with revenue up 60.8% year over year to $2.37 billion.
• Analyst sentiment remains constructive: Kinross has a Moderate Buy consensus rating, with an average price target of $38.56, while the stock was recently trading down 3.4% at $23.07.

Munich Reinsurance Co Stock Corp in Munich lifted its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 266.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 473,741 shares of the mining company's stock after purchasing an additional 344,495 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in Kinross Gold were worth $14,437,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KGC. V Square Quantitative Management LLC acquired a new stake in shares of Kinross Gold in the 4th quarter worth $26,000. Financial Management Professionals Inc. acquired a new position in shares of Kinross Gold during the 4th quarter valued at about $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold during the 3rd quarter valued at about $28,000. Ascentis Independent Advisors purchased a new stake in shares of Kinross Gold in the first quarter valued at about $29,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company's stock valued at $32,000 after purchasing an additional 589 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Trading Down 3.4%

NYSE KGC opened at $23.07 on Thursday. The firm's 50-day moving average is $27.41 and its two-hundred day moving average is $30.63. Kinross Gold Corporation has a 12 month low of $15.04 and a 12 month high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The stock has a market capitalization of $27.43 billion, a P/E ratio of 9.77, a PEG ratio of 0.85 and a beta of 0.78.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. Kinross Gold's revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 2.89 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold's dividend payout ratio (DPR) is 6.78%.

Analysts Set New Price Targets

A number of equities analysts have commented on KGC shares. Royal Bank Of Canada raised shares of Kinross Gold from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. Jefferies Financial Group cut their price target on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a report on Monday. Wall Street Zen lowered shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 24th. ATB Cormark Capital Markets upgraded Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, May 1st. Finally, Freedom Capital upgraded Kinross Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.56.

About Kinross Gold

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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