Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Sells 19,400 Shares of Kinross Gold Corporation $KGC

Key Points

• Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. reduced its stake in Kinross Gold Corporation by 23.8%, selling 19,400 shares and now holds 62,200 shares worth approximately $968,000.
• The company's recent quarterly earnings showed an EPS of $0.44, surpassing expectations, with revenues reaching $1.75 billion, up 41.7% year-over-year.
• Kinross Gold recently declared a quarterly dividend of $0.03 per share, reflecting a dividend yield of 0.5% and a payout ratio of 9.68%.

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. decreased its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 23.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,200 shares of the mining company's stock after selling 19,400 shares during the quarter. Kinross Gold accounts for about 4.6% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s investment portfolio, making the stock its 6th largest holding. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings in Kinross Gold were worth $968,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of Kinross Gold in the 1st quarter valued at $55,000. IFP Advisors Inc boosted its position in shares of Kinross Gold by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company's stock valued at $81,000 after purchasing an additional 835 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after purchasing an additional 3,659 shares during the period. Headlands Technologies LLC acquired a new position in shares of Kinross Gold in the 1st quarter valued at $77,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of Kinross Gold by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after purchasing an additional 1,787 shares during the period. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Stock Down 9.0%

Shares of Kinross Gold stock opened at $25.10 on Friday. The firm has a market cap of $30.43 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 0.88 and a beta of 0.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold Corporation has a 52-week low of $8.99 and a 52-week high of $27.84. The stock has a 50-day simple moving average of $22.58 and a 200-day simple moving average of $17.64.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm's revenue was up 41.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. On average, equities research analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's payout ratio is currently 9.68%.

Analyst Ratings Changes

A number of research firms recently weighed in on KGC. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and increased their price target for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. Weiss Ratings reiterated a "buy (a-)" rating on shares of Kinross Gold in a research report on Wednesday, October 8th. Canaccord Genuity Group increased their price target on Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Finally, Raymond James Financial raised their price objective on Kinross Gold from $20.00 to $25.00 and gave the stock a "market perform" rating in a research report on Friday, October 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Kinross Gold presently has an average rating of "Buy" and a consensus target price of $25.69.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.

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