Baader Bank Aktiengesellschaft Acquires 21,866 Shares of Kinross Gold Corporation $KGC

Baader Bank Aktiengesellschaft boosted its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 39.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,473 shares of the mining company’s stock after buying an additional 21,866 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Kinross Gold were worth $1,877,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KGC. Norges Bank bought a new position in shares of Kinross Gold in the second quarter worth about $389,025,000. Man Group plc grew its holdings in shares of Kinross Gold by 47.8% during the 2nd 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. Bank of America Corp DE increased its position in Kinross Gold by 81.2% during the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock worth $126,191,000 after purchasing an additional 3,617,320 shares in the last quarter. AustralianSuper Pty Ltd lifted its stake in Kinross Gold by 127.2% in the 2nd quarter. AustralianSuper Pty Ltd now owns 6,107,913 shares of the mining company’s stock valued at $95,509,000 after purchasing an additional 3,419,440 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Kinross Gold by 47.5% in the 2nd quarter. Invesco Ltd. now owns 8,947,418 shares of the mining company’s stock valued at $139,848,000 after purchasing an additional 2,880,097 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research note on Sunday, December 7th. Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Desjardins started coverage on Kinross Gold in a report on Friday, November 28th. They issued a “buy” rating for the company. Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a research note on Wednesday, February 4th. Finally, Zacks Research cut Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.81.

Kinross Gold Stock Performance

NYSE KGC opened at $34.31 on Wednesday. The company has a market capitalization of $41.17 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 0.37 and a beta of 0.74. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. Kinross Gold Corporation has a twelve month low of $10.32 and a twelve month high of $39.11. The stock has a fifty day simple moving average of $31.14 and a 200 day simple moving average of $25.74.

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.