Associated Banc Corp Decreases Holdings in Kinross Gold Corporation $KGC

Associated Banc Corp reduced its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 17.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,594 shares of the mining company’s stock after selling 2,187 shares during the quarter. Associated Banc Corp’s holdings in Kinross Gold were worth $166,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Boston Partners boosted its holdings in Kinross Gold by 36.5% in the first quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock valued at $632,797,000 after purchasing an additional 12,705,061 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in shares of Kinross Gold by 127.2% during the 2nd quarter. AustralianSuper Pty Ltd now owns 6,107,913 shares of the mining company’s stock worth $95,509,000 after buying an additional 3,419,440 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Kinross Gold by 95.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock valued at $87,639,000 after buying an additional 3,398,687 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Kinross Gold by 55.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 6,387,031 shares of the mining company’s stock valued at $80,481,000 after buying an additional 2,288,753 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Kinross Gold by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock valued at $172,571,000 after buying an additional 1,876,764 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Up 5.1%

KGC stock opened at $27.41 on Thursday. The stock has a market capitalization of $33.09 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The company has a fifty day moving average of $24.62 and a 200-day moving average of $19.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $27.84.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. As a group, analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.035 per share. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is currently 9.79%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KGC shares. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. TD Securities boosted their target price on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Scotiabank restated an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Finally, Zacks Research upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $27.69.

Kinross Gold Company Profile

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.