Kinross Gold Corporation (KGC) Position Reduced by OppenheimerFunds Inc.

OppenheimerFunds Inc. cut its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 98.8% during the first quarter, Holdings Channel reports. The firm owned 50,000 shares of the mining company’s stock after selling 4,272,979 shares during the period. OppenheimerFunds Inc.’s holdings in Kinross Gold Corporation were worth $176,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in Kinross Gold Corporation by 15.9% in the first quarter. Van ECK Associates Corp now owns 101,123,425 shares of the mining company’s stock valued at $354,943,000 after buying an additional 13,902,629 shares during the period. Credit Agricole S A boosted its stake in Kinross Gold Corporation by 59.0% in the first quarter. Credit Agricole S A now owns 5,213,338 shares of the mining company’s stock valued at $18,298,000 after buying an additional 1,935,160 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Kinross Gold Corporation by 2.2% in the first quarter. Artisan Partners Limited Partnership now owns 40,401,930 shares of the mining company’s stock worth $141,811,000 after buying an additional 860,062 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Kinross Gold Corporation during the first quarter worth approximately $450,000. Finally, SG Americas Securities LLC boosted its stake in shares of Kinross Gold Corporation by 129.3% in the first quarter. SG Americas Securities LLC now owns 422,411 shares of the mining company’s stock worth $1,483,000 after buying an additional 1,861,801 shares during the period. Institutional investors and hedge funds own 60.55% of the company’s stock.

Kinross Gold Corporation (NYSE KGC) opened at 4.12 on Friday. The stock’s market cap is $5.14 billion. Kinross Gold Corporation has a 52-week low of $2.88 and a 52-week high of $5.56. The stock has a 50 day moving average price of $4.09 and a 200 day moving average price of $3.83.

Kinross Gold Corporation (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, May 2nd. The mining company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. Kinross Gold Corporation had a positive return on equity of 2.13% and a negative net margin of 0.13%. The firm had revenue of $796.10 million during the quarter, compared to analysts’ expectations of $790.06 million. Kinross Gold Corporation’s revenue was up 1.7% on a year-over-year basis. Analysts expect that Kinross Gold Corporation will post $0.07 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “[[title]]” was originally posted by [[site]] and is the property of of [[site]]. If you are viewing this report on another domain, it was stolen and republished in violation of US & international copyright and trademark laws. The correct version of this report can be accessed at [[permalink]].

A number of analysts have recently commented on KGC shares. Credit Suisse Group restated a “hold” rating and set a $5.00 target price on shares of Kinross Gold Corporation in a report on Thursday, April 27th. Raymond James Financial, Inc. restated an “ourperform” rating and set a $6.00 target price on shares of Kinross Gold Corporation in a report on Thursday, June 15th. Jefferies Group LLC restated a “hold” rating and set a $3.75 target price (down previously from $4.00) on shares of Kinross Gold Corporation in a report on Friday, July 14th. ValuEngine upgraded shares of Kinross Gold Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $4.75 target price (up previously from $4.25) on shares of Kinross Gold Corporation in a report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $4.90.

About Kinross Gold Corporation

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.

Want to see what other hedge funds are holding KGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinross Gold Corporation (NYSE:KGC) (TSE:K).