Van ECK Associates Corp trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 24.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,106,698 shares of the mining company’s stock after selling 25,016,727 shares during the period. Kinross Gold Corporation comprises approximately 1.7% of Van ECK Associates Corp’s investment portfolio, making the stock its 9th biggest position. Van ECK Associates Corp owned approximately 6.10% of Kinross Gold Corporation worth $309,754,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. IFP Advisors Inc boosted its holdings in Kinross Gold Corporation by 22.0% during the second quarter. IFP Advisors Inc now owns 38,769 shares of the mining company’s stock worth $158,000 after buying an additional 7,000 shares in the last quarter. Creative Planning boosted its holdings in Kinross Gold Corporation by 14.2% during the second quarter. Creative Planning now owns 44,435 shares of the mining company’s stock worth $181,000 after buying an additional 5,514 shares in the last quarter. Virtu Financial LLC bought a new stake in Kinross Gold Corporation during the second quarter worth approximately $202,000. Karp Capital Management Corp bought a new stake in Kinross Gold Corporation during the first quarter worth approximately $235,000. Finally, World Asset Management Inc boosted its holdings in Kinross Gold Corporation by 2.6% during 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 in the last quarter. Hedge funds and other institutional investors own 59.56% of the company’s stock.
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Shares of Kinross Gold Corporation (NYSE KGC) traded up 0.331% during midday trading on Tuesday, hitting $4.545. 2,256,519 shares of the company traded hands. The stock has a market capitalization of $5.67 billion, a P/E ratio of 108.214 and a beta of 0.18. The stock’s 50-day moving average is $4.40 and its 200 day moving average is $4.00. Kinross Gold Corporation has a 12-month low of $2.88 and a 12-month high of $4.91.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, August 2nd. The mining company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. The firm had revenue of $868.60 million during the quarter, compared to analysts’ expectations of $825.02 million. Kinross Gold Corporation had a net margin of 1.54% and a return on equity of 3.63%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) earnings per share. On average, analysts expect that Kinross Gold Corporation will post $0.10 earnings per share for the current year.
A number of brokerages recently weighed in on KGC. BidaskClub cut shares of Kinross Gold Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. TD Securities raised their target price on shares of Kinross Gold Corporation from $5.50 to $6.00 and gave the stock an “action list buy” rating in a report on Thursday, August 3rd. National Bank Financial restated a “sector perform market weight” rating on shares of Kinross Gold Corporation in a report on Thursday, August 3rd. Berenberg Bank restated a “hold” rating and set a $4.60 target price on shares of Kinross Gold Corporation in a report on Friday, August 4th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Kinross Gold Corporation in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $5.17.
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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