Van ECK Associates Corp Raises Holdings in Kinross Gold Co. (NYSE:KGC)

Van ECK Associates Corp boosted its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 62.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,323,261 shares of the mining company’s stock after purchasing an additional 44,610,091 shares during the period. Kinross Gold comprises 1.4% of Van ECK Associates Corp’s investment portfolio, making the stock its 13th largest position. Van ECK Associates Corp owned 9.46% of Kinross Gold worth $1,078,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its holdings in shares of Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after purchasing an additional 5,140 shares during the period. Valley National Advisers Inc. purchased a new position in Kinross Gold during the 4th quarter valued at about $92,000. Corundum Trust Company INC bought a new position in Kinross Gold during the 3rd quarter valued at approximately $94,000. OneDigital Investment Advisors LLC purchased a new stake in Kinross Gold in the 3rd quarter worth approximately $94,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Kinross Gold in the 3rd quarter worth approximately $95,000. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $11.13.

Kinross Gold Stock Performance

Shares of KGC opened at $12.17 on Thursday. Kinross Gold Co. has a one year low of $4.75 and a one year high of $12.28. The company has a 50-day simple moving average of $10.29 and a two-hundred day simple moving average of $9.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The firm has a market capitalization of $14.96 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. On average, analysts anticipate that Kinross Gold Co. will post 0.73 EPS for the current fiscal year.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.