Deutsche Bank AG Sells 1,245,801 Shares of Kinross Gold Co. (NYSE:KGC)

Deutsche Bank AG lessened its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 20.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,738,861 shares of the mining company’s stock after selling 1,245,801 shares during the quarter. Deutsche Bank AG’s holdings in Kinross Gold were worth $43,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Signaturefd LLC grew its holdings in shares of Kinross Gold by 2.2% during the 4th quarter. Signaturefd LLC now owns 41,072 shares of the mining company’s stock worth $381,000 after purchasing an additional 865 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its holdings in Kinross Gold by 30.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock valued at $40,000 after buying an additional 1,002 shares during the period. TD Private Client Wealth LLC increased its holdings in Kinross Gold by 2.4% in the 4th quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company’s stock valued at $423,000 after buying an additional 1,079 shares during the period. Schechter Investment Advisors LLC increased its holdings in Kinross Gold by 2.8% in the 4th quarter. Schechter Investment Advisors LLC now owns 39,569 shares of the mining company’s stock valued at $367,000 after buying an additional 1,080 shares during the period. Finally, Atomi Financial Group Inc. increased its holdings in Kinross Gold by 4.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company’s stock valued at $219,000 after buying an additional 1,106 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KGC has been the topic of several recent analyst reports. Scotiabank raised their target price on shares of Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a report on Thursday, May 8th. BMO Capital Markets started coverage on Kinross Gold in a report on Wednesday, April 16th. They set an “outperform” rating for the company. CIBC boosted their price target on Kinross Gold from $14.00 to $16.00 and gave the stock an “outperformer” rating in a report on Tuesday. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, National Bankshares reissued an “outperform” rating on shares of Kinross Gold in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and a consensus price target of $13.90.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $13.77 on Wednesday. Kinross Gold Co. has a fifty-two week low of $7.20 and a fifty-two week high of $15.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. The firm has a market capitalization of $16.94 billion, a P/E ratio of 17.88, a P/E/G ratio of 0.68 and a beta of 0.64. The company’s 50 day moving average price is $13.28 and its two-hundred day moving average price is $11.36.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm’s revenue was up 38.5% compared to the same quarter last year. On average, equities analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Thursday, May 29th. Kinross Gold’s dividend payout ratio is currently 12.24%.

Kinross Gold 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.