Alliancebernstein L.P. cut its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 111,222 shares of the mining company’s stock after selling 301 shares during the period. Alliancebernstein L.P.’s holdings in Kinross Gold Corporation were worth $390,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Planning increased its position in Kinross Gold Corporation by 42.7% in the first quarter. Creative Planning now owns 38,921 shares of the mining company’s stock worth $137,000 after buying an additional 11,643 shares during the period. Karp Capital Management Corp acquired a new position in Kinross Gold Corporation during the first quarter worth approximately $235,000. Korea Investment CORP acquired a new position in Kinross Gold Corporation during the first quarter worth approximately $271,000. World Asset Management Inc increased its position in Kinross Gold Corporation by 2.6% in the first quarter. World Asset Management Inc now owns 77,447 shares of the mining company’s stock worth $272,000 after buying an additional 1,932 shares during the period. Finally, Wells Fargo & Company MN increased its position in Kinross Gold Corporation by 15.1% in the first quarter. Wells Fargo & Company MN now owns 91,788 shares of the mining company’s stock worth $322,000 after buying an additional 12,016 shares during the period. 60.85% of the stock is currently owned by institutional investors.
Kinross Gold Corporation (NYSE:KGC) traded down 1.65% during mid-day trading on Friday, reaching $4.18. 16,606,981 shares of the company were exchanged. The stock has a 50-day moving average of $4.09 and a 200 day moving average of $3.88. The firm has a market capitalization of $5.21 billion, a P/E ratio of 99.52 and a beta of 0.22. Kinross Gold Corporation has a 1-year low of $2.88 and a 1-year high of $5.27.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, August 2nd. The mining company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The company had revenue of $868.60 million for the quarter, compared to analyst estimates of $825.02 million. Kinross Gold Corporation had a net margin of 1.54% and a return on equity of 3.63%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) earnings per share. Equities research analysts forecast that Kinross Gold Corporation will post $0.10 earnings per share for the current year.
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A number of research analysts have commented on KGC shares. Credit Suisse Group reissued a “hold” rating and set a $5.00 target price on shares of Kinross Gold Corporation in a research report on Thursday, April 27th. Raymond James Financial, Inc. restated an “ourperform” rating and issued a $6.00 price target on shares of Kinross Gold Corporation in a report on Thursday, June 15th. Jefferies Group LLC restated a “hold” rating and issued a $3.75 price target (down from $4.00) on shares of Kinross Gold Corporation in a report on Friday, July 14th. ValuEngine upgraded shares of Kinross Gold Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $4.75 price target (up from $4.25) on shares of Kinross Gold Corporation in a report on Tuesday, May 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Kinross Gold Corporation currently has an average rating of “Hold” and a consensus target price of $4.99.
Kinross Gold Corporation Company Profile
Kinross Gold Corporation is a gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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