Kinross Gold Corporation (KGC) Stake Decreased by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA decreased its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 84.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,020 shares of the mining company’s stock after selling 596,244 shares during the period. BNP Paribas Arbitrage SA’s holdings in Kinross Gold Corporation were worth $456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KGC. Wells Fargo & Company MN lifted its position in shares of Kinross Gold Corporation by 15.1% in the first quarter. Wells Fargo & Company MN now owns 91,788 shares of the mining company’s stock worth $322,000 after buying an additional 12,016 shares in the last quarter. World Asset Management Inc lifted its position in shares of Kinross Gold Corporation by 2.6% in the first quarter. World Asset Management Inc now owns 77,447 shares of the mining company’s stock worth $272,000 after buying an additional 1,932 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Kinross Gold Corporation in the first quarter worth about $235,000. Parametric Portfolio Associates LLC lifted its position in shares of Kinross Gold Corporation by 34.3% in the first quarter. Parametric Portfolio Associates LLC now owns 495,476 shares of the mining company’s stock worth $1,739,000 after buying an additional 126,540 shares in the last quarter. Finally, State of Wisconsin Investment Board lifted its position in shares of Kinross Gold Corporation 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 in the last quarter. 59.56% of the stock is owned by hedge funds and other institutional investors.

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Kinross Gold Corporation (NYSE KGC) opened at 4.82 on Friday. The company has a market cap of $6.01 billion, a PE ratio of 114.76 and a beta of 0.18. Kinross Gold Corporation has a 1-year low of $2.88 and a 1-year high of $4.91. The stock’s 50 day moving average price is $4.39 and its 200-day moving average price is $3.99.

Kinross Gold Corporation (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, August 2nd. The mining company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. Kinross Gold Corporation had a net margin of 1.54% and a return on equity of 3.63%. The business had revenue of $868.60 million for the quarter, compared to analyst estimates of $825.02 million. During the same period last year, the company posted ($0.01) EPS. The business’s revenue was down .9% on a year-over-year basis. On average, analysts forecast that Kinross Gold Corporation will post $0.10 earnings per share for the current year.

A number of research firms recently commented on KGC. BMO Capital Markets upgraded Kinross Gold Corporation from a “market perform” rating to a “buy” rating and boosted their target price for the stock from $3.75 to $5.00 in a research report on Monday, May 29th. BidaskClub downgraded Kinross Gold Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Bank of America Corporation upgraded Kinross Gold Corporation from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC set a $4.00 target price on Kinross Gold Corporation and gave the stock a “hold” rating in a research report on Friday, May 19th. Finally, Berenberg Bank reiterated a “hold” rating and issued a $4.60 target price on shares of Kinross Gold Corporation in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.17.

About Kinross Gold Corporation

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.

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

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