First Eagle Investment Management LLC Sells 1,367,053 Shares of Kinross Gold Corp. (KGC)
First Eagle Investment Management LLC lowered its position in Kinross Gold Corp. (NYSE:KGC) (TSE:K) by 37.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,324,836 shares of the mining company’s stock after selling 1,367,053 shares during the period. First Eagle Investment Management LLC’s holdings in Kinross Gold Corp. were worth $9,788,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Concert Wealth Management Inc. raised its stake in shares of Kinross Gold Corp. by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 21,675 shares of the mining company’s stock worth $106,000 after buying an additional 1,675 shares in the last quarter. Exane Derivatives raised 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 worth $118,000 after buying an additional 28,132 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Kinross Gold Corp. during the second quarter worth $169,000. IFP Advisors Inc raised its stake in shares of Kinross Gold Corp. by 52.9% in the second quarter. IFP Advisors Inc now owns 42,620 shares of the mining company’s stock worth $208,000 after buying an additional 14,750 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Kinross Gold Corp. during the second quarter worth $216,000. Institutional investors and hedge funds own 60.53% of the company’s stock.
Shares of Kinross Gold Corp. (NYSE:KGC) traded up 0.445% during mid-day trading on Tuesday, hitting $3.385. The stock had a trading volume of 8,361,199 shares. The firm’s market cap is $4.21 billion. Kinross Gold Corp. has a 52-week low of $1.31 and a 52-week high of $5.82. The stock’s 50-day moving average price is $3.69 and its 200-day moving average price is $4.51.
Kinross Gold Corp. (NYSE:KGC) last posted its earnings results on Wednesday, November 2nd. The mining company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.05. The company had revenue of $910.20 million for the quarter, compared to analysts’ expectations of $915.18 million. Kinross Gold Corp. had a positive return on equity of 1.23% and a negative net margin of 26.82%. Kinross Gold Corp.’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. On average, analysts anticipate that Kinross Gold Corp. will post $0.12 earnings per share for the current fiscal year.
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A number of brokerages recently weighed in on KGC. RBC Capital Markets restated an “outperform” rating on shares of Kinross Gold Corp. in a research report on Tuesday, November 1st. Vetr upgraded Kinross Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $5.63 price target on the stock in a research report on Monday, August 22nd. Zacks Investment Research upgraded Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research report on Monday, August 29th. Berenberg Bank initiated coverage on Kinross Gold Corp. in a research report on Wednesday, September 7th. They issued a “hold” rating and a $4.60 price target on the stock. Finally, TD Securities reiterated a “buy” rating and issued a $6.50 price target (down previously from $7.00) on shares of Kinross Gold Corp. in a research 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. Kinross Gold Corp. currently has a consensus rating of “Hold” and a consensus target price of $5.53.
About Kinross Gold Corp.
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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