Navellier & Associates Inc. Purchases 63,936 Shares of Kinross Gold Corporation $KGC

Navellier & Associates Inc. boosted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 13.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 540,017 shares of the mining company’s stock after buying an additional 63,936 shares during the period. Kinross Gold makes up about 1.4% of Navellier & Associates Inc.’s holdings, making the stock its 12th largest holding. Navellier & Associates Inc.’s holdings in Kinross Gold were worth $13,419,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Kinross Gold during the 2nd quarter valued at about $389,025,000. Man Group plc lifted its position in Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after purchasing an additional 5,411,491 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Kinross Gold by 0.3% during the second quarter. First Eagle Investment Management LLC now owns 11,825,153 shares of the mining company’s stock valued at $184,827,000 after purchasing an additional 37,942 shares during the last quarter. Geode Capital Management LLC grew its stake in Kinross Gold by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock worth $172,571,000 after buying an additional 1,876,764 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in Kinross Gold by 50.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock worth $228,227,000 after buying an additional 3,089,959 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Trading Up 5.8%

Shares of KGC stock opened at $33.94 on Tuesday. The stock has a market capitalization of $40.72 billion, a PE ratio of 23.73, a P/E/G ratio of 0.36 and a beta of 0.74. Kinross Gold Corporation has a 1-year low of $10.32 and a 1-year high of $39.11. The business has a 50-day moving average of $31.00 and a 200 day moving average of $25.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KGC shares. Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Desjardins assumed coverage on Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $33.00 target price on shares of Kinross Gold in a research note on Sunday, December 7th. 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.81.

About Kinross Gold

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.