Swiss Life Asset Management Ltd Has $9.59 Million Stock Holdings in Kinross Gold Corporation $KGC

Key Points

• Swiss Life Asset Management increased its Kinross Gold stake by 39.6% in the fourth quarter, ending with 340,532 shares worth about $9.59 million.
• Kinross Gold reported better-than-expected quarterly earnings of $0.71 per share, topping estimates, while revenue rose 60.8% year over year to $2.37 billion.
• The company declared a quarterly dividend of $0.04 per share and received a generally positive analyst outlook, with MarketBeat showing a Moderate Buy consensus and a $38.81 average price target.

Swiss Life Asset Management Ltd raised its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 39.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 340,532 shares of the mining company's stock after acquiring an additional 96,630 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Kinross Gold were worth $9,592,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Plato Investment Management Ltd increased its holdings in shares of Kinross Gold by 135.9% during the 4th quarter. Plato Investment Management Ltd now owns 161,995 shares of the mining company's stock valued at $4,591,000 after acquiring an additional 93,311 shares during the last quarter. Generali Asset Management SPA SGR increased its holdings in shares of Kinross Gold by 20.9% during the 4th quarter. Generali Asset Management SPA SGR now owns 64,638 shares of the mining company's stock valued at $1,820,000 after acquiring an additional 11,173 shares during the last quarter. MGO One Seven LLC increased its holdings in shares of Kinross Gold by 397.2% during the 4th quarter. MGO One Seven LLC now owns 40,829 shares of the mining company's stock valued at $1,150,000 after acquiring an additional 32,617 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Kinross Gold by 10.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 59,809 shares of the mining company's stock valued at $1,684,000 after acquiring an additional 5,582 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co increased its holdings in shares of Kinross Gold by 7.3% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 482,806 shares of the mining company's stock valued at $13,624,000 after acquiring an additional 32,800 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $31.75 on Wednesday. The business has a 50 day moving average price of $31.51 and a 200 day moving average price of $30.35. Kinross Gold Corporation has a twelve month low of $13.28 and a twelve month high of $39.11. The company has a market cap of $37.91 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.15 and a beta of 0.73. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08.

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, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The firm's revenue for the quarter was up 60.8% compared to the same quarter last year. Research analysts predict that Kinross Gold Corporation will post 2.9 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be given a $0.04 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio (DPR) is currently 6.78%.

Analyst Ratings Changes

A number of brokerages have recently commented on KGC. Weiss Ratings lowered Kinross Gold from a "buy (a+)" rating to a "buy (a-)" rating in a report on Friday, May 1st. TD Securities lowered their price objective on Kinross Gold from $43.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Wall Street Zen lowered Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 25th. Zacks Research downgraded Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 23rd. Finally, Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a research note on Wednesday, February 4th. 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.81.

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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