PFG Investments LLC Reduces Stake in Kinross Gold Co. (NYSE:KGC)

PFG Investments LLC lessened its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 15.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,836 shares of the mining company’s stock after selling 2,661 shares during the period. PFG Investments LLC’s holdings in Kinross Gold were worth $139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of KGC. Atlas Capital Advisors LLC purchased a new position in Kinross Gold during the second quarter worth about $40,000. Fifth Third Bancorp grew its stake in shares of Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after buying an additional 9,375 shares during the period. Advisor Resource Council acquired a new stake in shares of Kinross Gold during the 1st quarter worth approximately $60,000. Corundum Trust Company INC purchased a new stake in shares of Kinross Gold during the 3rd quarter valued at approximately $94,000. Finally, Blue Trust Inc. lifted its holdings in Kinross Gold by 113.1% in the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after acquiring an additional 6,011 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. CIBC lifted their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Scotiabank upped their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group lifted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Kinross Gold Stock Down 3.8 %

Shares of KGC opened at $10.08 on Friday. The company’s 50-day simple moving average is $9.60 and its 200-day simple moving average is $8.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $10.82. The stock has a market capitalization of $12.39 billion, a PE ratio of 24.59, a P/E/G ratio of 0.55 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS. Analysts forecast that Kinross Gold Co. will post 0.64 earnings per share 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.