Denali Advisors LLC Sells 106,111 Shares of Kinross Gold Corporation $KGC

Denali Advisors LLC lowered its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 41.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,979 shares of the mining company’s stock after selling 106,111 shares during the quarter. Denali Advisors LLC’s holdings in Kinross Gold were worth $3,777,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Todd Asset Management LLC lifted its holdings in shares of Kinross Gold by 12.6% during the 3rd quarter. Todd Asset Management LLC now owns 272,359 shares of the mining company’s stock valued at $6,768,000 after buying an additional 30,419 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Kinross Gold by 36.8% in the third quarter. PNC Financial Services Group Inc. now owns 28,908 shares of the mining company’s stock valued at $718,000 after acquiring an additional 7,778 shares during the period. Cadence Wealth Management LLC boosted its position in Kinross Gold by 1.3% in the third quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock worth $1,149,000 after purchasing an additional 581 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its position in Kinross Gold by 4.0% in the third quarter. Cookson Peirce & Co. Inc. now owns 53,362 shares of the mining company’s stock worth $1,326,000 after purchasing an additional 2,032 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in shares of Kinross Gold by 222.1% during the 3rd quarter. Metis Global Partners LLC now owns 150,485 shares of the mining company’s stock valued at $3,735,000 after purchasing an additional 103,765 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Up 6.4%

KGC opened at $34.42 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.68 and a current ratio of 2.83. Kinross Gold Corporation has a fifty-two week low of $10.32 and a fifty-two week high of $39.11. The firm’s fifty day moving average is $31.54 and its 200 day moving average is $26.12. The stock has a market cap of $41.30 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 0.36 and a beta of 0.74.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Scotiabank raised their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a research note on Wednesday, February 4th. Jefferies Financial Group reissued a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a research report on Sunday, December 7th. UBS Group set a $43.00 target price on Kinross Gold in a report on Friday, January 30th. Finally, Zacks Research downgraded Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.81.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.