River & Mercantile Asset Management LLP Buys Shares of 650,000 Kinross Gold Co. (KGC)

River & Mercantile Asset Management LLP bought a new stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the third quarter, HoldingsChannel reports. The fund bought 650,000 shares of the mining company’s stock, valued at approximately $1,752,000.

Other institutional investors also recently added to or reduced their stakes in the company. FIL Ltd bought a new position in shares of Kinross Gold during the 3rd quarter valued at approximately $104,000. Vanguard Capital Wealth Advisors bought a new position in shares of Kinross Gold during the 2nd quarter valued at approximately $182,000. Nomura Holdings Inc. bought a new position in shares of Kinross Gold during the 2nd quarter valued at approximately $248,000. Tower Research Capital LLC TRC grew its position in shares of Kinross Gold by 4,393.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 96,161 shares of the mining company’s stock valued at $362,000 after acquiring an additional 94,021 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in Kinross Gold by 126.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 101,800 shares of the mining company’s stock worth $275,000 after buying an additional 56,800 shares during the period. 54.08% of the stock is owned by hedge funds and other institutional investors.

NYSE KGC opened at $2.85 on Friday. Kinross Gold Co. has a 1 year low of $2.38 and a 1 year high of $4.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 3.07. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 20.36 and a beta of 0.26.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, November 7th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.05). Kinross Gold had a return on equity of 2.82% and a net margin of 6.85%. The firm had revenue of $753.90 million during the quarter, compared to analysts’ expectations of $777.48 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. As a group, research analysts forecast that Kinross Gold Co. will post 0.11 EPS for the current fiscal year.

KGC has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Kinross Gold from a “hold” rating to a “sell” rating in a report on Monday, October 8th. BMO Capital Markets reaffirmed a “hold” rating and issued a $3.50 price objective on shares of Kinross Gold in a report on Friday, September 21st. Deutsche Bank set a $4.00 price objective on shares of Kinross Gold and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Royal Bank of Canada downgraded shares of Kinross Gold from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $5.00 to $4.75 in a report on Monday, August 20th. They noted that the move was a valuation call. Finally, Credit Suisse Group initiated coverage on shares of Kinross Gold in a report on Thursday, September 6th. They issued a “neutral” rating and a $4.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Kinross Gold currently has a consensus rating of “Hold” and a consensus price target of $4.27.

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Kinross Gold Company 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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Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

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