Allspring Global Investments Holdings LLC Has $36.97 Million Stock Holdings in Kinross Gold Co. (NYSE:KGC)

Allspring Global Investments Holdings LLC lifted its stake in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 634.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,942,042 shares of the mining company's stock after purchasing an additional 3,405,478 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.32% of Kinross Gold worth $36,971,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. OLD National Bancorp IN raised its stake in shares of Kinross Gold by 43.7% during the third quarter. OLD National Bancorp IN now owns 16,433 shares of the mining company's stock valued at $154,000 after purchasing an additional 4,999 shares in the last quarter. Raymond James & Associates raised its position in Kinross Gold by 25.7% in the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company's stock worth $3,186,000 after acquiring an additional 69,520 shares in the last quarter. Blue Trust Inc. raised its position in Kinross Gold by 88.5% in the third quarter. Blue Trust Inc. now owns 21,351 shares of the mining company's stock worth $200,000 after acquiring an additional 10,024 shares in the last quarter. One Wealth Advisors LLC bought a new stake in Kinross Gold in the third quarter worth about $127,000. Finally, Creative Planning raised its position in Kinross Gold by 12.0% in the third quarter. Creative Planning now owns 71,945 shares of the mining company's stock worth $673,000 after acquiring an additional 7,689 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KGC has been the topic of several research reports. StockNews.com cut shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, September 25th. CIBC boosted their price objective on Kinross Gold from $8.15 to $12.00 and gave the stock an "outperformer" rating in a report on Wednesday, July 10th. Scotiabank boosted their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Finally, Jefferies Financial Group boosted their price objective on Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $9.50.

Kinross Gold Stock Up 0.1 %

Shares of NYSE KGC traded up $0.01 during trading hours on Wednesday, hitting $10.71. The stock had a trading volume of 15,946,480 shares, compared to its average volume of 15,222,411. The company has a market capitalization of $13.16 billion, a P/E ratio of 26.12, a P/E/G ratio of 0.58 and a beta of 1.24. The firm's 50-day moving average price is $9.44 and its two-hundred day moving average price is $8.40. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $10.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. The company's revenue was up 11.6% on a year-over-year basis. Analysts anticipate that Kinross Gold Co. will post 0.61 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.12%. Kinross Gold's payout ratio is 29.27%.

About Kinross Gold

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.