United Services Automobile Association lessened its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 15.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,698,413 shares of the mining company’s stock after selling 887,802 shares during the period. United Services Automobile Association owned about 0.38% of Kinross Gold worth $12,686,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of KGC. AMP Capital Investors Ltd increased its holdings in Kinross Gold by 16.7% during the third quarter. AMP Capital Investors Ltd now owns 925,229 shares of the mining company’s stock valued at $2,549,000 after buying an additional 132,368 shares during the last quarter. Virtu Financial LLC increased its holdings in Kinross Gold by 58.4% during the third quarter. Virtu Financial LLC now owns 116,335 shares of the mining company’s stock valued at $314,000 after buying an additional 42,882 shares during the last quarter. Pictet Asset Management Ltd. purchased a new stake in Kinross Gold during the third quarter valued at approximately $1,470,000. Korea Investment CORP increased its holdings in Kinross Gold by 266.6% during the third quarter. Korea Investment CORP now owns 952,148 shares of the mining company’s stock valued at $2,593,000 after buying an additional 692,400 shares during the last quarter. Finally, Credit Suisse AG increased its holdings in Kinross Gold by 3.5% during the third quarter. Credit Suisse AG now owns 7,625,087 shares of the mining company’s stock valued at $20,588,000 after buying an additional 260,862 shares during the last quarter. Hedge funds and other institutional investors own 54.08% of the company’s stock.
Shares of NYSE KGC opened at $2.85 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.07 and a quick ratio of 1.26. The firm has a market capitalization of $3.53 billion, a PE ratio of 20.36 and a beta of 0.26. Kinross Gold Co. has a 1 year low of $2.38 and a 1 year high of $4.78.
Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.05). The firm had revenue of $753.90 million during the quarter, compared to analysts’ expectations of $777.48 million. Kinross Gold had a return on equity of 2.82% and a net margin of 6.85%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. As a group, research analysts predict that Kinross Gold Co. will post 0.11 earnings per share for the current fiscal year.
A number of brokerages have commented on KGC. Beacon Securities reaffirmed a “buy” rating on shares of Kinross Gold in a report on Monday, November 19th. BMO Capital Markets reaffirmed a “hold” rating and set a $3.25 target price on shares of Kinross Gold in a report on Friday, November 9th. TD Securities reduced their target price on shares of Kinross Gold from $5.50 to $5.00 and set a “buy” rating for the company in a report on Friday, November 9th. Credit Suisse Group set a $4.00 price objective on shares of Kinross Gold and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Finally, ValuEngine cut shares of Kinross Gold from a “sell” rating to a “strong sell” rating in a research note on Friday, August 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $4.27.
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Kinross Gold 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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