Metis Global Partners LLC Grows Stock Holdings in Kinross Gold Corporation $KGC

Metis Global Partners LLC increased its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 222.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,485 shares of the mining company’s stock after purchasing an additional 103,765 shares during the quarter. Metis Global Partners LLC’s holdings in Kinross Gold were worth $3,735,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Kinross Gold during the 2nd quarter valued at $389,025,000. Man Group plc increased 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 acquiring an additional 5,411,491 shares during the last quarter. Bank of America Corp DE lifted its holdings in Kinross Gold by 81.2% in the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after acquiring an additional 3,617,320 shares during the period. AustralianSuper Pty Ltd lifted its holdings in Kinross Gold by 127.2% in the second quarter. AustralianSuper Pty Ltd now owns 6,107,913 shares of the mining company’s stock valued at $95,509,000 after acquiring an additional 3,419,440 shares during the period. Finally, Invesco Ltd. boosted its position in Kinross Gold by 47.5% in the second quarter. Invesco Ltd. now owns 8,947,418 shares of the mining company’s stock worth $139,848,000 after purchasing an additional 2,880,097 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGC has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Desjardins initiated coverage on shares of Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. Cormark downgraded shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a research note on Wednesday, February 4th. Finally, UBS Group set a $43.00 price objective on Kinross Gold in a research note on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.81.

Kinross Gold Stock Performance

KGC opened at $34.42 on Friday. The company has a 50 day simple moving average of $31.54 and a two-hundred day simple moving average of $25.98. 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 firm has a market cap of $41.30 billion, a P/E ratio of 24.07, a PEG ratio of 0.34 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.

Kinross Gold Company 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.