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.
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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