Today, State of Wisconsin Investment Board Boosts Stake in Kinross Gold Corp. (KGC)

Today, State of Wisconsin Investment Board Boosts Stake in Kinross Gold Corp. (KGC)
State of Wisconsin Investment Board increased its stake in Kinross Gold Corp. (NYSE:KGC) (TSE:K) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,177,284 shares of the mining company’s stock after buying an additional 33,800 shares during the period. State of Wisconsin Investment Board owned approximately 0.09% of Kinross Gold Corp. worth $4,954,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. World Asset Management Inc increased its position in shares of Kinross Gold Corp. by 8.4% in the third quarter. World Asset Management Inc now owns 82,257 shares of the mining company’s stock valued at $346,000 after buying an additional 6,389 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Kinross Gold Corp. by 2.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,197,240 shares of the mining company’s stock valued at $17,695,000 after buying an additional 87,250 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of Kinross Gold Corp. during the third quarter valued at $984,000. Exane Derivatives boosted its stake in shares of Kinross Gold Corp. by 2,813,200.0% in the third quarter. Exane Derivatives now owns 28,133 shares of the mining company’s stock valued at $118,000 after buying an additional 28,132 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of Kinross Gold Corp. by 3.9% in the third quarter. Capstone Asset Management Co. now owns 107,967 shares of the mining company’s stock valued at $455,000 after buying an additional 4,010 shares in the last quarter. Institutional investors and hedge funds own 60.71% of the company’s stock.

Kinross Gold Corp. (NYSE:KGC) remained flat at $3.17 during midday trading on Friday. 5,968,884 shares of the company traded hands. The company’s 50-day moving average is $3.69 and its 200-day moving average is $4.54. The company’s market cap is $3.95 billion. Kinross Gold Corp. has a 1-year low of $1.31 and a 1-year high of $5.82.

Kinross Gold Corp. (NYSE:KGC) last issued its quarterly earnings results on Wednesday, November 2nd. The mining company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.05. Kinross Gold Corp. had a positive return on equity of 1.23% and a negative net margin of 26.82%. The firm had revenue of $910.20 million for the quarter, compared to analyst estimates of $915.18 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. On average, analysts predict that Kinross Gold Corp. will post $0.12 EPS for the current fiscal year.

Several brokerages have weighed in on KGC. RBC Capital Markets reissued an “outperform” rating on shares of Kinross Gold Corp. in a report on Tuesday, November 1st. TD Securities reissued a “buy” rating and set a $6.50 price objective (down from $7.00) on shares of Kinross Gold Corp. in a report on Thursday, November 3rd. Zacks Investment Research cut Kinross Gold Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Vetr cut Kinross Gold Corp. from a “strong-buy” rating to a “buy” rating and set a $5.70 price objective for the company. in a report on Monday, August 1st. Finally, Canaccord Genuity reissued a “buy” rating and set a $7.75 price objective (down from $8.00) on shares of Kinross Gold Corp. in a report on Thursday, November 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $5.53.

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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