Kinross Gold Corporation $KGC Shares Bought by Profund Advisors LLC

Profund Advisors LLC grew its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 45.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 149,922 shares of the mining company’s stock after buying an additional 46,666 shares during the quarter. Profund Advisors LLC’s holdings in Kinross Gold were worth $3,726,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in KGC. GPS Wealth Strategies Group LLC acquired a new position in Kinross Gold in the third quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Kinross Gold in the 3rd quarter valued at about $31,000. Armstrong Advisory Group Inc. grew its holdings in shares of Kinross Gold by 95.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after purchasing an additional 717 shares during the period. Hollencrest Capital Management acquired a new stake in Kinross Gold during the 3rd quarter worth approximately $40,000. Finally, Mather Group LLC. purchased a new position in Kinross Gold in the third quarter valued at approximately $44,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of KGC stock opened at $32.08 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The company’s fifty day moving average price is $30.89 and its two-hundred day moving average price is $25.48. The firm has a market capitalization of $38.49 billion, a P/E ratio of 22.43, a P/E/G ratio of 0.36 and a beta of 0.74. Kinross Gold Corporation has a 12 month low of $10.32 and a 12 month high of $39.11.

Analyst Upgrades and Downgrades

KGC has been the subject of several research reports. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a research note on Sunday, December 7th. Scotiabank upped their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Zacks Research lowered Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Finally, Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.81.

Kinross Gold Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.