Assenagon Asset Management S.A. Grows Stock Position in Kinross Gold Corporation $KGC

Assenagon Asset Management S.A. raised its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 231.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,156 shares of the mining company’s stock after acquiring an additional 426,146 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of Kinross Gold worth $17,189,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Armstrong Advisory Group Inc. lifted its position in shares of Kinross Gold by 32.9% during the fourth quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock worth $55,000 after purchasing an additional 483 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Kinross Gold by 9.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 37,269 shares of the mining company’s stock valued at $1,133,000 after purchasing an additional 3,347 shares in the last quarter. QP Wealth Management LLC purchased a new stake in Kinross Gold during the 4th quarter worth $2,141,000. Avior Wealth Management LLC increased its stake in Kinross Gold by 10.5% during the 4th quarter. Avior Wealth Management LLC now owns 10,901 shares of the mining company’s stock worth $307,000 after buying an additional 1,033 shares during the period. Finally, GK Wealth Management LLC lifted its holdings in Kinross Gold by 21.5% in the 4th quarter. GK Wealth Management LLC now owns 11,120 shares of the mining company’s stock worth $313,000 after buying an additional 1,970 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on KGC. Desjardins began coverage on shares of Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Scotiabank lifted their target price on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Finally, Zacks Research lowered Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.56.

Kinross Gold Trading Down 3.8%

Shares of NYSE KGC opened at $27.92 on Friday. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $33.30 and its two-hundred day moving average price is $28.63. Kinross Gold Corporation has a 52-week low of $11.12 and a 52-week high of $39.11. The stock has a market capitalization of $33.44 billion, a P/E ratio of 14.25, a PEG ratio of 1.42 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the firm earned $0.20 EPS. The business’s revenue was up 42.9% on a year-over-year basis. On average, analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th were issued a $0.04 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, March 11th. Kinross Gold’s dividend payout ratio is presently 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.