Profund Advisors LLC Has $514,000 Stake in Kinross Gold Co. (KGC)
Profund Advisors LLC lowered its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 22.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 130,244 shares of the mining company’s stock after selling 37,398 shares during the quarter. Profund Advisors LLC’s holdings in Kinross Gold were worth $514,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KGC. ING Groep NV bought a new position in shares of Kinross Gold during the 4th quarter valued at approximately $178,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Kinross Gold by 45.6% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 78,900 shares of the mining company’s stock valued at $341,000 after purchasing an additional 24,700 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Kinross Gold by 209.1% during the 1st quarter. GSA Capital Partners LLP now owns 97,619 shares of the mining company’s stock valued at $386,000 after purchasing an additional 66,036 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Kinross Gold by 32.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 133,974 shares of the mining company’s stock valued at $727,000 after purchasing an additional 33,161 shares during the last quarter. Finally, OppenheimerFunds Inc. bought a new position in shares of Kinross Gold during the 1st quarter valued at approximately $781,000. 53.95% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on KGC shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Kinross Gold in a research report on Wednesday, April 4th. Deutsche Bank upped their price objective on Kinross Gold from $4.00 to $4.20 and gave the company a “hold” rating in a research report on Wednesday, April 11th. BMO Capital Markets downgraded Kinross Gold from an “outperform” rating to a “market perform” rating and set a $4.00 price objective on the stock. in a research report on Monday, April 9th. ValuEngine downgraded Kinross Gold from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. Finally, Scotiabank cut their price objective on Kinross Gold from $5.00 to $4.75 and set a “sector perform” rating on the stock in a research report on Thursday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $4.62.
Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, May 8th. The mining company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.05. The company had revenue of $897.20 million for the quarter, compared to analysts’ expectations of $823.77 million. Kinross Gold had a return on equity of 6.20% and a net margin of 12.25%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. equities analysts expect that Kinross Gold Co. will post 0.2 EPS for the current year.
Kinross Gold 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.
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