Commerzbank Aktiengesellschaft FI Invests $711,000 in Kinross Gold Corporation $KGC

Commerzbank Aktiengesellschaft FI acquired a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 30,106 shares of the mining company’s stock, valued at approximately $711,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtus Advisers LLC acquired a new stake in Kinross Gold in the third quarter valued at approximately $28,000. Ascentis Independent Advisors acquired a new position in shares of Kinross Gold during the first quarter worth $29,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares during the last quarter. Elevated Capital Advisors LLC purchased a new stake in shares of Kinross Gold during the 4th quarter valued at $36,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Kinross Gold in the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

KGC has been the topic of several recent analyst reports. Royal Bank Of Canada reduced their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. UBS Group lowered their price target on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Jefferies Financial Group dropped their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Weiss Ratings downgraded shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Finally, Zacks Research lowered shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.43.

Kinross Gold Price Performance

NYSE KGC opened at $27.12 on Wednesday. The company has a market cap of $32.17 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 0.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The stock’s fifty day moving average price is $24.85 and its 200 day moving average price is $29.14. Kinross Gold Corporation has a 1 year low of $18.65 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The firm’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. As a group, equities research analysts forecast that Kinross Gold Corporation will post 2.63 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is presently 6.06%.

Kinross Gold 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.