Commerzbank Aktiengesellschaft FI Invests $911,000 in Kinross Gold Corporation $KGC

Commerzbank Aktiengesellschaft FI bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,856 shares of the mining company’s stock, valued at approximately $911,000.

A number of other institutional investors also recently modified their holdings of KGC. V Square Quantitative Management LLC bought a new stake in Kinross Gold during the 4th quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new position in Kinross Gold in the 4th quarter valued at $26,000. Virtus Advisers LLC bought a new position in Kinross Gold in the 3rd quarter valued at $28,000. Ascentis Independent Advisors acquired a new position in Kinross Gold in the first quarter worth $29,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 4.0%

NYSE:KGC opened at $23.42 on Wednesday. The company has a market cap of $27.79 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 0.60 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The stock’s fifty day moving average price is $26.11 and its two-hundred day moving average price is $30.28. Kinross Gold Corporation has a 52-week low of $15.37 and a 52-week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. On average, analysts anticipate that Kinross Gold Corporation will post 2.65 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 6.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. UBS Group reduced their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Zacks Research lowered shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Finally, Weiss Ratings downgraded shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.31.

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.