Investec Asset Management LTD Has $11.26 Million Holdings in Kinross Gold Corporation (KGC)
Investec Asset Management LTD reduced its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 46.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,775,551 shares of the mining company’s stock after selling 2,445,853 shares during the quarter. Investec Asset Management LTD owned about 0.22% of Kinross Gold Corporation worth $11,263,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Korea Investment CORP grew its holdings in Kinross Gold Corporation by 1.9% in the second quarter. Korea Investment CORP now owns 78,457 shares of the mining company’s stock worth $318,000 after purchasing an additional 1,448 shares during the last quarter. World Asset Management Inc grew its holdings in Kinross Gold Corporation by 2.6% in the first quarter. World Asset Management Inc now owns 77,447 shares of the mining company’s stock worth $272,000 after purchasing an additional 1,932 shares during the last quarter. Creative Planning grew its holdings in Kinross Gold Corporation by 14.2% in the second quarter. Creative Planning now owns 44,435 shares of the mining company’s stock worth $181,000 after purchasing an additional 5,514 shares during the last quarter. IFP Advisors Inc grew its holdings in Kinross Gold Corporation by 22.0% in the second quarter. IFP Advisors Inc now owns 38,769 shares of the mining company’s stock worth $158,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Rockshelter Capital Management LLC grew its holdings in Kinross Gold Corporation by 0.9% in the first quarter. Rockshelter Capital Management LLC now owns 971,650 shares of the mining company’s stock worth $3,410,000 after purchasing an additional 8,310 shares during the last quarter. 59.56% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Kinross Gold Corporation (NYSE KGC) traded down 0.022% on Tuesday, hitting $4.529. 1,176,187 shares of the company’s stock were exchanged. Kinross Gold Corporation has a 12-month low of $2.88 and a 12-month high of $4.91. The company’s 50-day moving average price is $4.40 and its 200 day moving average price is $4.00. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 107.833 and a beta of 0.18.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, August 2nd. The mining company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The business had revenue of $868.60 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. On average, equities analysts predict that Kinross Gold Corporation will post $0.10 earnings per share for the current fiscal year.
KGC has been the topic of several analyst reports. TD Securities lifted their price target 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. Royal Bank Of Canada set a $5.00 price target on shares of Kinross Gold Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. BMO Capital Markets raised shares of Kinross Gold Corporation from a “market perform” rating to a “buy” rating and lifted their price target for the stock from $3.75 to $5.00 in a report on Monday, May 29th. Bank of America Corporation raised shares of Kinross Gold Corporation from a “neutral” rating to a “buy” rating in a report on Tuesday, May 23rd. Finally, ValuEngine raised shares of Kinross Gold Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Kinross Gold Corporation has an average rating of “Hold” and an average target price of $5.17.
Kinross Gold Corporation 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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