Tobam Acquires 195,100 Shares of Kinross Gold Co. (KGC)

Tobam raised its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 3.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,422,290 shares of the mining company’s stock after buying an additional 195,100 shares during the period. Tobam owned approximately 0.44% of Kinross Gold worth $19,068,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in KGC. AGF Investments Inc. boosted its stake in shares of Kinross Gold by 9.5% in the first quarter. AGF Investments Inc. now owns 280,718 shares of the mining company’s stock worth $989,000 after buying an additional 24,274 shares during the period. Contrarius Investment Management Ltd boosted its stake in shares of Kinross Gold by 63.8% in the first quarter. Contrarius Investment Management Ltd now owns 15,588,099 shares of the mining company’s stock worth $54,714,000 after buying an additional 6,071,866 shares during the period. Stevens Capital Management LP boosted its stake in shares of Kinross Gold by 838.3% in the first quarter. Stevens Capital Management LP now owns 179,449 shares of the mining company’s stock worth $630,000 after buying an additional 160,325 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of Kinross Gold by 37.1% in the first quarter. State of Wisconsin Investment Board now owns 1,318,784 shares of the mining company’s stock worth $4,638,000 after buying an additional 357,200 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of Kinross Gold during the first quarter worth $8,431,000. Institutional investors and hedge funds own 60.70% of the company’s stock.

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

Shares of Kinross Gold Co. (NYSE:KGC) traded up 0.95% during midday trading on Friday, reaching $4.25. 11,340,047 shares of the company traded hands. The company’s market capitalization is $5.30 billion. The company has a 50 day moving average price of $3.76 and a 200 day moving average price of $3.58. Kinross Gold Co. has a 1-year low of $2.88 and a 1-year high of $5.81. Kinross Gold also saw unusually large options trading activity on Thursday. Stock traders acquired 96,991 put options on the stock. This is an increase of approximately 1,007% compared to the average volume of 8,758 put options.

Kinross Gold (NYSE:KGC) last released its earnings results on Tuesday, May 2nd. The mining company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $796.10 million for the quarter, compared to the consensus estimate of $790.06 million. Kinross Gold had a negative net margin of 26.82% and a positive return on equity of 1.23%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts expect that Kinross Gold Co. will post $0.06 earnings per share for the current year.

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A number of equities research analysts have weighed in on the stock. Jefferies Group LLC restated a “hold” rating and issued a $4.00 price objective on shares of Kinross Gold in a report on Friday. TD Securities upgraded shares of Kinross Gold from a “buy” rating to an “action list buy” rating and set a $5.50 price target on the stock in a report on Wednesday, May 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $4.75 price target (up previously from $4.25) on shares of Kinross Gold in a report on Tuesday, May 9th. Scotiabank set a $4.00 price target on shares of Kinross Gold and gave the company a “sector perform” rating in a report on Thursday, May 4th. Finally, CIBC upgraded shares of Kinross Gold from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.68.

Kinross Gold Company Profile

Kinross Gold Corporation is a 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. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.

12 Month Chart for NYSE:KGC

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