Concert Wealth Management Inc. increased its stake in Kinross Gold Corp. (NYSE:KGC) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 21,675 shares of the mining company’s stock after buying an additional 1,675 shares during the period. Concert Wealth Management Inc.’s holdings in Kinross Gold Corp. were worth $106,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of KGC. Renaissance Technologies LLC raised its stake in shares of Kinross Gold Corp. by 42.7% in the first quarter. Renaissance Technologies LLC now owns 47,149,874 shares of the mining company’s stock valued at $160,311,000 after buying an additional 14,107,775 shares during the period. CIBC World Markets Inc. raised its stake in shares of Kinross Gold Corp. by 2.7% in the second quarter. CIBC World Markets Inc. now owns 16,752,394 shares of the mining company’s stock valued at $81,919,000 after buying an additional 439,826 shares during the period. Prudential PLC bought a new stake in shares of Kinross Gold Corp. during the first quarter valued at about $51,000,000. Bank of Montreal Can bought a new stake in shares of Kinross Gold Corp. during the second quarter valued at about $71,098,000. Finally, Acadian Asset Management LLC raised its stake in shares of Kinross Gold Corp. by 45.1% in the second quarter. Acadian Asset Management LLC now owns 12,956,715 shares of the mining company’s stock valued at $63,252,000 after buying an additional 4,028,214 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.
Shares of Kinross Gold Corp. (NYSE:KGC) traded up 1.10% during midday trading on Monday, reaching $3.66. The company’s stock had a trading volume of 13,082,833 shares. The company’s 50-day moving average price is $4.09 and its 200 day moving average price is $4.69. Kinross Gold Corp. has a 1-year low of $1.31 and a 1-year high of $5.82. The firm’s market capitalization is $4.56 billion.
Kinross Gold Corp. (NYSE:KGC) last released its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.02. The firm earned $876.40 million during the quarter, compared to analysts’ expectations of $841.98 million. Kinross Gold Corp. had a negative return on equity of 2.35% and a negative net margin of 29.41%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) earnings per share. On average, equities research analysts forecast that Kinross Gold Corp. will post $0.11 earnings per share for the current year.
KGC has been the topic of several research analyst reports. Macquarie upgraded shares of Kinross Gold Corp. from an “underperform” rating to a “neutral” rating in a report on Friday, July 1st. BMO Capital Markets restated a “buy” rating and issued a $6.50 price objective on shares of Kinross Gold Corp. in a report on Thursday, July 28th. Royal Bank Of Canada restated an “outperform” rating on shares of Kinross Gold Corp. in a report on Thursday, June 30th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Kinross Gold Corp. in a research report on Sunday, September 25th. Finally, HSBC reaffirmed a “buy” rating on shares of Kinross Gold Corp. in a research report on Thursday, July 7th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $5.43.
Kinross Gold Corp. Company Profile
Kinross Gold Corporation is 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. Its segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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