Munich Reinsurance Co Stock Corp in Munich Acquires 188,690 Shares of Kinross Gold Corporation $KGC

Munich Reinsurance Co Stock Corp in Munich boosted its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 39.8% in the second quarter, Holdings Channel reports. The institutional investor owned 662,431 shares of the mining company’s stock after acquiring an additional 188,690 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Kinross Gold were worth $15,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Continuum Advisory LLC purchased a new stake in shares of Kinross Gold during the second quarter worth $26,000. Nykredit A S bought a new position in shares of Kinross Gold in the second quarter worth $13,324,000. XML Financial LLC grew its position in shares of Kinross Gold by 5.9% in the second quarter. XML Financial LLC now owns 12,550 shares of the mining company’s stock valued at $296,000 after purchasing an additional 700 shares in the last quarter. Triumph Capital Management grew its position in shares of Kinross Gold by 20,428.6% in the second quarter. Triumph Capital Management now owns 17,244 shares of the mining company’s stock valued at $407,000 after purchasing an additional 17,160 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd bought a new stake in shares of Kinross Gold during the 2nd quarter valued at $273,000. Institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Zacks Research cut Kinross Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Jefferies Financial Group decreased their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Wall Street Zen downgraded shares of Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Royal Bank Of Canada cut their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings cut shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Price Performance

Kinross Gold stock opened at $30.87 on Friday. The stock has a market cap of $36.57 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.85 and a beta of 0.84. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $26.38 and a 200 day simple moving average of $29.01. Kinross Gold Corporation has a 52 week low of $21.61 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company posted $0.44 EPS. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, research analysts forecast that Kinross Gold Corporation will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 20th. Kinross Gold’s payout ratio is currently 6.06%.

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.