OppenheimerFunds Inc. cut its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 98.8% during the first quarter, according to its most recent disclosure with the SEC. 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 and other institutional investors have also recently bought and sold shares of the company. DORCHESTER WEALTH MANAGEMENT Co boosted its position in Kinross Gold Corporation by 0.3% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 193,250 shares of the mining company’s stock valued at $681,000 after buying an additional 600 shares during the period. World Asset Management Inc boosted its position 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 valued at $272,000 after buying an additional 1,932 shares during the period. Capstone Asset Management Co. boosted its position in Kinross Gold Corporation by 3.1% in the first quarter. Capstone Asset Management Co. now owns 112,447 shares of the mining company’s stock valued at $395,000 after buying an additional 3,420 shares during the period. Creative Planning boosted its position in Kinross Gold Corporation by 42.7% in the first quarter. Creative Planning now owns 38,921 shares of the mining company’s stock valued at $137,000 after buying an additional 11,643 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Kinross Gold Corporation by 15.1% in the first quarter. Wells Fargo & Company MN now owns 91,788 shares of the mining company’s stock valued at $322,000 after buying an additional 12,016 shares during the period. Hedge funds and other institutional investors own 60.85% of the company’s stock.
Kinross Gold Corporation (KGC) traded down 0.72% during mid-day trading on Monday, reaching $4.15. 1,337,915 shares of the company traded hands. The firm’s market cap is $5.17 billion. Kinross Gold Corporation has a one year low of $2.88 and a one year high of $5.56. The stock’s 50-day moving average price is $4.07 and its 200-day moving average price is $3.85.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, August 2nd. The mining company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Kinross Gold Corporation had a net margin of 1.54% and a return on equity of 3.63%. The firm had revenue of $868.60 million during the quarter, compared to analysts’ expectations of $825.02 million. During the same quarter last year, the company posted ($0.01) EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. Analysts forecast that Kinross Gold Corporation will post $0.07 earnings per share for the current fiscal year.
Several research analysts have commented on the stock. TD Securities upgraded shares of Kinross Gold Corporation from a “buy” rating to an “action list buy” rating and set a $5.50 target price for the company in a research report on Wednesday, May 10th. BMO Capital Markets upgraded shares of Kinross Gold Corporation from a “market perform” rating to a “buy” rating and upped their target price for the stock from $3.75 to $5.00 in a research report on Monday, May 29th. Scotiabank upped their target price on shares of Kinross Gold Corporation from $4.50 to $4.75 and gave the stock a “sector perform” rating in a research report on Friday. Bank of America Corporation upgraded shares of Kinross Gold Corporation from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 23rd. Finally, Jefferies Group LLC set a $4.00 target price on shares of Kinross Gold Corporation and gave the stock a “hold” rating in a research report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Kinross Gold Corporation currently has a consensus rating of “Hold” and an average price target of $4.99.
Kinross Gold Corporation Company 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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