Kinross Gold Corporation $KGC Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,785,483 shares of the mining company’s stock after purchasing an additional 50,000 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.23% of Kinross Gold worth $78,459,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. lifted its holdings in shares of Kinross Gold by 32.9% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock valued at $55,000 after purchasing an additional 483 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its stake in shares of Kinross Gold by 2.1% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after buying an additional 521 shares during the period. Ballentine Partners LLC grew its holdings in shares of Kinross Gold by 1.8% during the third quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock worth $799,000 after buying an additional 565 shares during the last quarter. Cadence Wealth Management LLC grew its holdings in shares of Kinross Gold by 1.3% during the third quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock worth $1,149,000 after buying an additional 581 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Kinross Gold by 7.0% in the 3rd quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company’s stock valued at $224,000 after acquiring an additional 587 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on KGC shares. Zacks Research downgraded Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. TD Securities dropped their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price objective on shares of Kinross Gold in a research report on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Stock Performance

NYSE KGC opened at $30.51 on Wednesday. The stock has a market capitalization of $36.54 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 1.40 and a beta of 0.73. The business’s 50 day moving average is $32.98 and its two-hundred day moving average is $28.85. Kinross Gold Corporation has a 12-month low of $11.12 and a 12-month high of $39.11. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.55 by $0.12. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company’s quarterly revenue was up 42.9% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS. Research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were issued a $0.04 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s payout ratio is 8.16%.

Kinross Gold Company 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.