Pictet Asset Management Ltd. lessened its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 16.3% in the 1st quarter, Holdings Channel reports. The firm owned 467,893 shares of the mining company’s stock after selling 91,300 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Kinross Gold were worth $1,611,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. K.J. Harrison & Partners Inc bought a new stake in shares of Kinross Gold during the first quarter worth about $34,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Kinross Gold during the first quarter worth about $33,000. PNC Financial Services Group Inc. increased its position in shares of Kinross Gold by 65.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,679 shares of the mining company’s stock worth $45,000 after acquiring an additional 5,390 shares in the last quarter. Maven Securities LTD bought a new stake in shares of Kinross Gold during the fourth quarter worth about $44,000. Finally, Sigma Planning Corp bought a new stake in shares of Kinross Gold during the first quarter worth about $52,000. 58.93% of the stock is owned by institutional investors and hedge funds.
KGC stock traded up $0.05 during trading on Wednesday, reaching $3.49. The stock had a trading volume of 105,119 shares, compared to its average volume of 10,541,480. Kinross Gold Co. has a one year low of $2.38 and a one year high of $3.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 3.02. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 34.80 and a beta of -0.13.
Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.06. Kinross Gold had a negative net margin of 2.10% and a positive return on equity of 1.88%. The business had revenue of $786.20 million during the quarter, compared to the consensus estimate of $800.70 million. During the same period in the prior year, the firm posted $0.10 EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts forecast that Kinross Gold Co. will post 0.12 EPS for the current fiscal year.
Several research firms have recently commented on KGC. ValuEngine downgraded shares of Kinross Gold from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Kinross Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. downgraded shares of Kinross Gold from a “neutral” rating to an “underweight” rating and set a $3.20 target price for the company. in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Kinross Gold presently has a consensus rating of “Hold” and a consensus price target of $3.77.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.
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