Erste Asset Management GmbH Decreases Holdings in Kinross Gold Corporation $KGC

Erste Asset Management GmbH decreased its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 24.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 117,900 shares of the mining company’s stock after selling 37,156 shares during the quarter. Erste Asset Management GmbH’s holdings in Kinross Gold were worth $3,191,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KGC. GPS Wealth Strategies Group LLC bought a new position in shares of Kinross Gold in the third quarter worth about $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Kinross Gold in the third quarter worth approximately $31,000. Armstrong Advisory Group Inc. boosted its position in Kinross Gold by 95.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after purchasing an additional 717 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Kinross Gold during the 3rd quarter worth approximately $40,000. Finally, Mather Group LLC. purchased a new stake in shares of Kinross Gold during the 3rd quarter valued at $44,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KGC has been the topic of several research reports. Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 22nd. Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price target on shares of Kinross Gold in a research note on Sunday, December 7th. 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Kinross Gold presently has a consensus rating of “Moderate Buy” and an average price target of $34.81.

Kinross Gold Price Performance

KGC stock opened at $36.93 on Friday. Kinross Gold Corporation has a 1 year low of $10.32 and a 1 year high of $39.11. The firm has a market capitalization of $44.31 billion, a P/E ratio of 18.84, a P/E/G ratio of 0.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. The business’s 50-day moving average is $33.00 and its two-hundred day moving average is $27.26.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 42.9% on a year-over-year basis. Analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be paid a $0.04 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, March 11th. Kinross Gold’s payout ratio is 7.14%.

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.