Allianz Asset Management GmbH Sells 443,004 Shares of Kinross Gold Corporation $KGC

Allianz Asset Management GmbH cut its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 5.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,605,756 shares of the mining company’s stock after selling 443,004 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.63% of Kinross Gold worth $188,752,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GPS Wealth Strategies Group LLC purchased a new position in shares of Kinross Gold in the 3rd quarter worth approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Kinross Gold in the third quarter valued at approximately $31,000. Armstrong Advisory Group Inc. boosted its stake in Kinross Gold by 95.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after acquiring an additional 717 shares in the last quarter. Hollencrest Capital Management purchased a new position in Kinross Gold in the third quarter worth $40,000. Finally, Mather Group LLC. acquired a new position in shares of Kinross Gold during the third quarter worth $44,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Trading Up 0.0%

Kinross Gold stock opened at $31.57 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. Kinross Gold Corporation has a 52 week low of $10.32 and a 52 week high of $39.11. The company has a market capitalization of $37.87 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 0.36 and a beta of 0.74. The stock has a 50-day moving average price of $30.48 and a 200 day moving average price of $25.02.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company earned $0.24 EPS. Kinross Gold’s quarterly revenue was up 25.8% on a year-over-year basis. Sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on KGC. Raymond James Financial raised their price objective on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. CIBC raised their price target on Kinross Gold from $37.00 to $38.50 and gave the stock an “outperform” rating in a report on Friday, January 16th. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 18th. UBS Group set a $43.00 price objective on shares of Kinross Gold in a research report on Friday. Finally, Scotiabank boosted their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold has an average rating of “Moderate Buy” and an average target price of $32.88.

About Kinross Gold

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.