Sprott Inc. Sells 6,497 Shares of Kinross Gold Co. (NYSE:KGC)

Sprott Inc. decreased its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 504,941 shares of the mining company’s stock after selling 6,497 shares during the quarter. Sprott Inc.’s holdings in Kinross Gold were worth $2,336,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Swiss National Bank grew its stake in shares of Kinross Gold by 2.9% in the 1st quarter. Swiss National Bank now owns 9,851,235 shares of the mining company’s stock valued at $33,920,000 after buying an additional 278,600 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Kinross Gold by 10.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,616,655 shares of the mining company’s stock valued at $21,706,000 after buying an additional 528,490 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Kinross Gold by 24.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,499,958 shares of the mining company’s stock valued at $17,425,000 after buying an additional 873,800 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of Kinross Gold by 15.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 3,310,516 shares of the mining company’s stock valued at $11,388,000 after buying an additional 435,736 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Kinross Gold by 25.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,389,722 shares of the mining company’s stock valued at $9,272,000 after buying an additional 481,674 shares in the last quarter. 54.86% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. cut Kinross Gold from a “neutral” rating to an “underweight” rating and set a $3.20 price target for the company. in a research note on Thursday, May 30th. Canaccord Genuity reaffirmed a “buy” rating on shares of Kinross Gold in a research report on Friday, July 19th. Royal Bank of Canada reaffirmed a “hold” rating and set a $4.25 target price on shares of Kinross Gold in a research report on Sunday, August 11th. Raymond James reaffirmed an “outperform” rating and set a $5.00 target price on shares of Kinross Gold in a research report on Friday, August 2nd. Finally, Deutsche Bank set a $4.00 target price on Kinross Gold and gave the stock a “hold” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $4.02.

Kinross Gold stock traded up $0.19 during trading hours on Monday, reaching $4.91. 2,440,155 shares of the company were exchanged, compared to its average volume of 14,292,376. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 48.75 and a beta of -0.06. The company has a current ratio of 2.88, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average of $4.81 and a 200 day moving average of $3.81. Kinross Gold Co. has a 12 month low of $2.38 and a 12 month high of $5.32.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, July 31st. The mining company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $837.80 million during the quarter, compared to analysts’ expectations of $820.97 million. Kinross Gold had a return on equity of 2.78% and a net margin of 0.13%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, research analysts forecast that Kinross Gold Co. will post 0.26 EPS for the current year.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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

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