Munich Reinsurance Co Stock Corp in Munich Buys 188,690 Shares of Kinross Gold Corporation $KGC

Key Points

• Munich Reinsurance increased its Kinross Gold stake by 39.8% in the second quarter, purchasing 188,690 shares and bringing its holdings to 662,431 shares valued at approximately $15.7 million. Institutional investors collectively own 63.69% of KGC.
• Analyst sentiment remains generally positive, with Kinross Gold receiving a consensus “Moderate Buy” rating and an average price target of $38.43, despite ratings ranging from Strong Buy to Sell.
• Kinross Gold reported quarterly EPS of $0.71, exceeding estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion. The company also paid a quarterly dividend of $0.04 per share, equal to a 0.5% annualized yield.

Munich Reinsurance Co Stock Corp in Munich increased its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 39.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 662,431 shares of the mining company's stock after buying an additional 188,690 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich owned 0.06% of Kinross Gold worth $15,679,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of KGC. Continuum Advisory LLC bought a new stake in shares of Kinross Gold in the 2nd quarter worth $26,000. Virtus Advisers LLC purchased a new position in Kinross Gold during the third quarter worth about $28,000. Ascentis Independent Advisors bought a new stake in Kinross Gold in the 1st quarter worth about $29,000. Harvest Fund Management Co. Ltd increased its stake in Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company's stock valued at $32,000 after buying an additional 589 shares during the last quarter. Finally, Caitlin John LLC lifted its position in shares of Kinross Gold by 42.1% during the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock worth $32,000 after buying an additional 400 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on KGC shares. Freedom Capital raised Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. Zacks Research lowered Kinross Gold from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, July 31st. UBS Group reduced their price objective on Kinross Gold from $38.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Finally, Wall Street Zen lowered Kinross Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.43.

Kinross Gold Price Performance

Kinross Gold stock opened at $30.87 on Friday. The business's 50 day simple moving average is $26.38 and its 200 day simple moving average is $29.01. Kinross Gold Corporation has a 12 month low of $21.61 and a 12 month high of $39.11. The company has a market cap of $36.57 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.85 and a beta of 0.84. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business posted $0.44 earnings per share. The business's revenue for the quarter was up 29.5% on a year-over-year basis. Sell-side analysts forecast that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.16 annualized dividend and a yield of 0.5%. Kinross Gold's dividend payout ratio (DPR) 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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