Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Invests $758,000 in Kinross Gold Co. (NYSE:KGC)

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 81,600 shares of the mining company’s stock, valued at approximately $758,000. Kinross Gold comprises approximately 1.0% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s holdings, making the stock its 11th largest holding.

Several other hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp grew its stake in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after purchasing an additional 44,610,091 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kinross Gold by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock valued at $439,881,000 after acquiring an additional 763,248 shares during the last quarter. Norges Bank acquired a new position in shares of Kinross Gold in the 4th quarter valued at about $280,697,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Kinross Gold by 10.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock worth $136,028,000 after purchasing an additional 1,398,225 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Kinross Gold by 15.4% in the fourth quarter. JPMorgan Chase & Co. now owns 13,438,786 shares of the mining company’s stock valued at $124,578,000 after buying an additional 1,793,065 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Down 0.1 %

Shares of NYSE KGC opened at $12.50 on Friday. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The stock has a market cap of $15.37 billion, a P/E ratio of 16.23, a PEG ratio of 0.68 and a beta of 1.29. The business’s fifty day simple moving average is $11.40 and its 200-day simple moving average is $10.38. Kinross Gold Co. has a 12-month low of $6.13 and a 12-month high of $12.90.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) 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%. As a group, equities analysts predict that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KGC. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 22nd. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, CIBC upped their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average 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.