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

Key Points

• Munich Reinsurance Co Stock Corp in Munich increased its holding in Kinross Gold by 2,271.5% in Q4, adding 123,796 shares to hold 129,246 shares valued at about $3.7 million.
• Kinross beat quarterly EPS estimates ($0.67 vs. $0.55), reported revenue up 42.9% year-over-year, and raised its quarterly dividend to $0.04 (annualized $0.16, ~0.5% yield).
• Analysts have a consensus “Moderate Buy” on Kinross with a $38.81 target; the stock trades near $32.77 (52-week range $13.28–$39.11) and carries a market cap of roughly $39.1 billion.

Munich Reinsurance Co Stock Corp in Munich grew its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 2,271.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,246 shares of the mining company's stock after buying an additional 123,796 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Kinross Gold were worth $3,701,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in shares of Kinross Gold by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company's stock valued at $2,682,791,000 after buying an additional 7,825,336 shares in the last quarter. Vanguard Group Inc. boosted its stake in Kinross Gold by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company's stock worth $1,259,280,000 after purchasing an additional 1,553,594 shares in the last quarter. Boston Partners boosted its stake in Kinross Gold by 1.6% in the 3rd quarter. Boston Partners now owns 45,120,345 shares of the mining company's stock worth $1,133,463,000 after purchasing an additional 707,498 shares in the last quarter. Man Group plc boosted its stake in Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company's stock worth $261,646,000 after purchasing an additional 5,411,491 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Kinross Gold by 16.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,083,320 shares of the mining company's stock worth $349,472,000 after purchasing an additional 2,018,572 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

NYSE KGC opened at $32.77 on Friday. Kinross Gold Corporation has a 52 week low of $13.28 and a 52 week high of $39.11. The firm has a market capitalization of $39.13 billion, a P/E ratio of 16.72, a PEG ratio of 1.53 and a beta of 0.82. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $32.37 and a 200-day moving average price of $29.89.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.55 by $0.12. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The business's revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. Equities research analysts anticipate that Kinross Gold Corporation will post 2.77 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Wednesday, March 11th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.16 annualized dividend and a yield of 0.5%. This is a positive change from Kinross Gold's previous quarterly dividend of $0.04. Kinross Gold's payout ratio is currently 8.16%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KGC. Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 23rd. TD Securities dropped their price target on shares of Kinross Gold from $43.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Wall Street Zen lowered Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Saturday. UBS Group decreased their target price on Kinross Gold from $43.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, March 27th. Finally, Scotiabank boosted their target price on Kinross Gold from $32.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.81.

Kinross Gold 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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