Candriam Luxembourg S.C.A. increased its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 55.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 989,618 shares of the mining company’s stock after purchasing an additional 352,763 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Kinross Gold were worth $4,701,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in Kinross Gold by 86.1% in the third quarter. Millennium Management LLC now owns 9,559,496 shares of the mining company’s stock valued at $43,973,000 after buying an additional 4,422,966 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Kinross Gold by 229.5% in the third quarter. Russell Investments Group Ltd. now owns 3,460,368 shares of the mining company’s stock valued at $15,941,000 after buying an additional 2,410,177 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Kinross Gold by 49.7% in the third quarter. Parametric Portfolio Associates LLC now owns 2,482,950 shares of the mining company’s stock valued at $11,422,000 after buying an additional 823,785 shares during the last quarter. Man Group plc bought a new stake in Kinross Gold in the third quarter valued at $2,220,000. Finally, Aigen Investment Management LP bought a new stake in Kinross Gold in the fourth quarter valued at $2,175,000. Hedge funds and other institutional investors own 52.06% of the company’s stock.
Shares of NYSE KGC opened at $5.05 on Friday. Kinross Gold Co. has a fifty-two week low of $3.00 and a fifty-two week high of $5.47. The firm’s 50-day simple moving average is $4.78 and its 200 day simple moving average is $4.69. The company has a quick ratio of 0.99, a current ratio of 2.71 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.33 billion, a P/E ratio of 36.07 and a beta of -0.06.
Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Kinross Gold had a net margin of 5.15% and a return on equity of 6.02%. The business had revenue of $996.20 million for the quarter, compared to analysts’ expectations of $947.81 million. During the same period in the previous year, the business earned $0.01 earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. On average, sell-side analysts anticipate that Kinross Gold Co. will post 0.32 earnings per share for the current fiscal year.
A number of research firms have issued reports on KGC. Credit Suisse Group reiterated a “neutral” rating and issued a $5.25 target price on shares of Kinross Gold in a research note on Thursday, January 23rd. ValuEngine upgraded Kinross Gold from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated a “hold” rating and issued a $5.00 target price on shares of Kinross Gold in a research note on Monday, January 20th. Raymond James reiterated an “outperform” rating and issued a $6.50 target price on shares of Kinross Gold in a research note on Friday. Finally, Zacks Investment Research upgraded Kinross Gold from a “sell” rating to a “hold” rating and set a $5.25 target price on the stock in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $5.12.
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.
Featured Story: What is meant by holder of record?
Want to see what other hedge funds are holding KGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinross Gold Co. (NYSE:KGC) (TSE:K).
Receive News & Ratings for Kinross Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold and related companies with MarketBeat.com's FREE daily email newsletter.