Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Grows Holdings in Kinross Gold Corporation $KGC

Key Points

• Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. increased its stake in Kinross Gold by 70.8% in Q4 to 124,200 shares (worth $3.556 million), making KGC its 4th-largest holding and about 7.6% of its portfolio.
• Multiple large institutions — including VanEck, Man Group, Bank of America and AustralianSuper — materially boosted positions, and hedge funds/institutions now own 63.69% of Kinross stock.
• Kinross reported a beat with EPS $0.67 and revenue up 42.9% year-over-year; the company has a $37.56 billion market cap and a consensus analyst rating of "Moderate Buy" with an average target of $38.81.

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 70.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 124,200 shares of the mining company's stock after purchasing an additional 51,500 shares during the period. Kinross Gold comprises about 7.6% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s investment portfolio, making the stock its 4th biggest position. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings in Kinross Gold were worth $3,556,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KGC. Van ECK Associates Corp boosted its position in 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 during the period. Man Group plc boosted its position in Kinross Gold by 47.8% during the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company's stock valued at $261,646,000 after buying an additional 5,411,491 shares during the period. Bank of America Corp DE boosted its position in Kinross Gold by 81.2% during the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company's stock valued at $126,191,000 after buying an additional 3,617,320 shares during the period. Quadrature Capital Ltd purchased a new stake in Kinross Gold during the 3rd quarter valued at $80,299,000. Finally, AustralianSuper Pty Ltd boosted its position in Kinross Gold by 50.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company's stock valued at $228,227,000 after buying an additional 3,089,959 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Trading Down 0.5%

NYSE:KGC opened at $31.37 on Tuesday. The company has a 50-day moving average price of $32.57 and a 200-day moving average price of $29.10. Kinross Gold Corporation has a 12 month low of $11.12 and a 12 month high of $39.11. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $37.56 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 1.54 and a beta of 0.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same period last year, the company posted $0.20 EPS. The company's quarterly revenue was up 42.9% compared to the same quarter last year. Equities analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group dropped their price target on shares of Kinross Gold from $43.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, March 27th. Royal Bank Of Canada raised shares of Kinross Gold from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. Scotiabank increased their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, January 26th. Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 14th. Finally, Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.81.

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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