Kinross Gold Co. (NYSE:KGC) Stake Lifted by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 8,141.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,884,336 shares of the mining company’s stock after purchasing an additional 2,849,336 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.23% of Kinross Gold worth $11,169,000 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. United Capital Financial Advisers LLC lifted its stake in Kinross Gold by 13.2% during the second quarter. United Capital Financial Advisers LLC now owns 22,514 shares of the mining company’s stock valued at $87,000 after purchasing an additional 2,628 shares during the last quarter. US Bancorp DE lifted its stake in Kinross Gold by 25.7% during the second quarter. US Bancorp DE now owns 18,111 shares of the mining company’s stock valued at $70,000 after purchasing an additional 3,703 shares during the last quarter. Advisor Partners LLC lifted its stake in Kinross Gold by 17.6% during the second quarter. Advisor Partners LLC now owns 25,351 shares of the mining company’s stock valued at $98,000 after purchasing an additional 3,795 shares during the last quarter. Private Advisor Group LLC lifted its stake in Kinross Gold by 36.5% during the second quarter. Private Advisor Group LLC now owns 14,386 shares of the mining company’s stock valued at $56,000 after purchasing an additional 3,845 shares during the last quarter. Finally, GAM Holding AG lifted its stake in Kinross Gold by 13.0% during the second quarter. GAM Holding AG now owns 34,714 shares of the mining company’s stock valued at $135,000 after purchasing an additional 4,003 shares during the last quarter. 54.83% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:KGC opened at $4.88 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.16 and a current ratio of 2.88. The company has a market cap of $6.12 billion, a PE ratio of 48.80 and a beta of -0.14. Kinross Gold Co. has a 52 week low of $2.38 and a 52 week high of $5.47. The firm has a 50 day simple moving average of $4.96 and a 200 day simple moving average of $4.01.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The business had revenue of $837.80 million during the quarter, compared to the consensus estimate of $820.97 million. Kinross Gold had a net margin of 0.13% and a return on equity of 2.78%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, equities analysts predict that Kinross Gold Co. will post 0.27 earnings per share for the current year.

Several research firms recently commented on KGC. ValuEngine lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Deutsche Bank set a $4.00 target price on shares of Kinross Gold and gave the company a “hold” rating in a research note on Thursday, July 11th. Citigroup increased their target price on shares of Kinross Gold from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. TD Securities increased their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Kinross Gold in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Kinross Gold has an average rating of “Hold” and a consensus target price of $4.45.

Kinross Gold Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

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