MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Invests $1.70 Million in Kinross Gold Co. (NYSE:KGC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the fourth quarter, Holdings Channel reports. The institutional investor bought 185,219 shares of the mining company’s stock, valued at approximately $1,696,000.

Other hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC boosted its holdings in Kinross Gold by 246.3% during the 4th quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after acquiring an additional 5,140 shares during the last quarter. Corundum Trust Company INC bought a new position in shares of Kinross Gold during the third quarter valued at about $94,000. OneDigital Investment Advisors LLC purchased a new position in Kinross Gold during the third quarter worth about $94,000. EP Wealth Advisors LLC bought a new stake in Kinross Gold in the 3rd quarter worth about $95,000. Finally, Fiera Capital Corp purchased a new stake in Kinross Gold in the 3rd quarter valued at about $99,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the subject of several recent analyst reports. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Jefferies Financial Group upped their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $11.13.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $10.51 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $9.85 and a two-hundred day simple moving average of $9.54. Kinross Gold Co. has a 1-year low of $4.75 and a 1-year high of $10.82. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. Analysts anticipate that Kinross Gold Co. will post 0.72 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is currently 19.67%.

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.