AGF Management Ltd. Sells 215,797 Shares of Kinross Gold Corporation $KGC

AGF Management Ltd. lessened its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 31.3% in the third quarter, Holdings Channel reports. The firm owned 474,736 shares of the mining company’s stock after selling 215,797 shares during the quarter. AGF Management Ltd.’s holdings in Kinross Gold were worth $11,782,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Kinross Gold during the 2nd quarter worth approximately $389,025,000. Man Group plc raised its position in Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after purchasing an additional 5,411,491 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in Kinross Gold by 0.3% during the second quarter. First Eagle Investment Management LLC now owns 11,825,153 shares of the mining company’s stock worth $184,827,000 after purchasing an additional 37,942 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kinross Gold by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock valued at $172,571,000 after purchasing an additional 1,876,764 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in shares of Kinross Gold by 50.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock valued at $228,227,000 after purchasing an additional 3,089,959 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on KGC. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. TD Securities upped their price objective on shares of Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. CIBC boosted their target price on shares of Kinross Gold from $37.00 to $38.50 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a report on Sunday, December 7th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.88.

Kinross Gold Trading Up 0.0%

KGC opened at $31.57 on Tuesday. Kinross Gold Corporation has a fifty-two week low of $10.32 and a fifty-two week high of $39.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The firm has a market capitalization of $37.87 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 0.36 and a beta of 0.74. The company’s 50 day moving average price is $30.48 and its two-hundred day moving average price is $25.02.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 earnings per share. As a group, research analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.