Allianz Asset Management GmbH Increases Stake in Kinross Gold Co. (NYSE:KGC)

Allianz Asset Management GmbH increased its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,127,891 shares of the mining company’s stock after buying an additional 49,328 shares during the period. Allianz Asset Management GmbH owned about 0.42% of Kinross Gold worth $47,600,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC increased its stake in shares of Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after buying an additional 4,788 shares during the period. Avior Wealth Management LLC increased its stake in shares of Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock valued at $67,000 after buying an additional 5,140 shares during the period. Valley National Advisers Inc. purchased a new position in shares of Kinross Gold during the fourth quarter valued at $92,000. OneDigital Investment Advisors LLC purchased a new position in shares of Kinross Gold during the third quarter valued at $94,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Kinross Gold during the third quarter valued at $95,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

KGC opened at $10.97 on Friday. The business’s 50-day moving average is $10.52 and its two-hundred day moving average is $9.92. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $12.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. The firm has a market capitalization of $13.48 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.68 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Research analysts anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, March 5th. Kinross Gold’s dividend payout ratio is presently 15.58%.

Analyst Ratings Changes

Several brokerages have recently commented on KGC. CIBC raised their price target on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kinross Gold has an average rating of “Buy” and a consensus price target of $11.63.

About Kinross Gold

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.