Commonwealth Bank of Australia reduced its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 85.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,900 shares of the mining company’s stock after selling 220,875 shares during the quarter. Commonwealth Bank of Australia’s holdings in Kinross Gold were worth $140,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Ruffer LLP boosted its position in shares of Kinross Gold by 15.6% during the second quarter. Ruffer LLP now owns 40,874,922 shares of the mining company’s stock valued at $153,931,000 after purchasing an additional 5,529,141 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Kinross Gold by 3.2% during the first quarter. Van ECK Associates Corp now owns 76,454,895 shares of the mining company’s stock valued at $301,997,000 after purchasing an additional 2,386,765 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Kinross Gold by 53.6% during the second quarter. Toronto Dominion Bank now owns 6,597,278 shares of the mining company’s stock valued at $24,950,000 after purchasing an additional 2,302,251 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Kinross Gold by 2.0% during the second quarter. Donald Smith & CO. Inc. now owns 51,291,334 shares of the mining company’s stock valued at $192,855,000 after purchasing an additional 1,025,062 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Kinross Gold by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 13,289,556 shares of the mining company’s stock valued at $49,969,000 after purchasing an additional 986,787 shares in the last quarter. Hedge funds and other institutional investors own 53.67% of the company’s stock.
Shares of KGC stock traded up $0.01 during mid-day trading on Friday, hitting $2.76. The company’s stock had a trading volume of 13,021,170 shares, compared to its average volume of 9,091,321. Kinross Gold Co. has a 52-week low of $2.67 and a 52-week high of $4.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.71 and a quick ratio of 1.88. The stock has a market capitalization of $3.38 billion, a P/E ratio of 19.71 and a beta of 0.17.
Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, August 1st. The mining company reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. Kinross Gold had a return on equity of 5.73% and a net margin of 11.67%. The firm had revenue of $775.00 million during the quarter, compared to analysts’ expectations of $803.96 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. The company’s revenue was down 10.8% on a year-over-year basis. As a group, analysts anticipate that Kinross Gold Co. will post 0.19 earnings per share for the current year.
Several equities research analysts recently weighed in on the company. ValuEngine upgraded Kinross Gold from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Deutsche Bank set a $4.00 price target on Kinross Gold and gave the company a “hold” rating in a research report on Tuesday. Credit Suisse Group set a $4.00 price objective on Kinross Gold and gave the company a “hold” rating in a research note on Tuesday, September 25th. BMO Capital Markets reiterated a “hold” rating and set a $3.50 price objective on shares of Kinross Gold in a research note on Friday, September 21st. Finally, JPMorgan Chase & Co. lowered their price objective on Kinross Gold from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Monday, September 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $4.33.
Kinross Gold Company Profile
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.
Featured Story: Beta
Receive News & Ratings for Kinross Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold and related companies with MarketBeat.com's FREE daily email newsletter.