River & Mercantile Asset Management LLP acquired a new stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 650,000 shares of the mining company’s stock, valued at approximately $1,752,000. River & Mercantile Asset Management LLP owned 0.05% of Kinross Gold at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FIL Ltd acquired a new position in shares of Kinross Gold during the third quarter valued at about $104,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Kinross Gold during the second quarter valued at about $182,000. Nomura Holdings Inc. acquired a new position in shares of Kinross Gold during the second quarter valued at about $248,000. Tower Research Capital LLC TRC raised its holdings in shares of Kinross Gold by 4,393.5% during the second quarter. Tower Research Capital LLC TRC now owns 96,161 shares of the mining company’s stock valued at $362,000 after purchasing an additional 94,021 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Kinross Gold by 126.2% during the third quarter. Gamco Investors INC. ET AL now owns 101,800 shares of the mining company’s stock valued at $275,000 after purchasing an additional 56,800 shares during the period. Hedge funds and other institutional investors own 54.08% of the company’s stock.
KGC opened at $2.85 on Friday. The company has a current ratio of 3.07, a quick ratio of 1.26 and a debt-to-equity ratio of 0.38. Kinross Gold Co. has a fifty-two week low of $2.38 and a fifty-two week high of $4.78. The stock has a market capitalization of $3.53 billion, a P/E ratio of 20.36 and a beta of 0.26.
Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, November 7th. The mining company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.05). Kinross Gold had a return on equity of 2.82% and a net margin of 6.85%. The business had revenue of $753.90 million during the quarter, compared to analyst estimates of $777.48 million. During the same quarter in the prior year, the company earned $0.07 EPS. The company’s revenue was down 8.9% on a year-over-year basis. Equities analysts forecast that Kinross Gold Co. will post 0.11 EPS for the current fiscal year.
KGC has been the topic of several research reports. ValuEngine lowered shares of Kinross Gold from a “sell” rating to a “strong sell” rating in a report on Friday, August 17th. Royal Bank of Canada lowered shares of Kinross Gold from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $5.00 to $4.75 in a report on Monday, August 20th. They noted that the move was a valuation call. Citigroup lowered their target price on shares of Kinross Gold from $4.00 to $3.25 and set a “neutral” rating on the stock in a report on Wednesday, August 29th. Credit Suisse Group assumed coverage on shares of Kinross Gold in a report on Thursday, September 6th. They issued a “neutral” rating and a $4.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of Kinross Gold from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Monday, September 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $4.27.
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Kinross Gold Company Profile
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.
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