SG Americas Securities LLC Cuts Position in Kinross Gold Co. (NYSE:KGC)

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SG Americas Securities LLC lessened its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 46.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,893 shares of the mining company’s stock after selling 101,807 shares during the quarter. SG Americas Securities LLC’s holdings in Kinross Gold were worth $837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ruffer LLP grew its holdings in Kinross Gold by 1.7% during the 1st quarter. Ruffer LLP now owns 42,616,178 shares of the mining company’s stock valued at $169,931,000 after buying an additional 723,017 shares in the last quarter. Norges Bank purchased a new position in Kinross Gold during the 4th quarter valued at approximately $79,059,000. Polunin Capital Partners Ltd grew its holdings in Kinross Gold by 0.4% during the 1st quarter. Polunin Capital Partners Ltd now owns 11,692,107 shares of the mining company’s stock valued at $46,534,000 after buying an additional 50,100 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Kinross Gold by 10.6% in the 1st quarter. Swiss National Bank now owns 10,629,135 shares of the mining company’s stock worth $41,917,000 after purchasing an additional 1,021,400 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Kinross Gold by 47.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,496,961 shares of the mining company’s stock worth $33,842,000 after purchasing an additional 2,747,132 shares during the period. Institutional investors and hedge funds own 54.96% of the company’s stock.

Shares of KGC stock opened at $9.37 on Friday. Kinross Gold Co. has a 52-week low of $2.72 and a 52-week high of $9.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 3.58. The firm has a market capitalization of $11.79 billion, a P/E ratio of 13.20 and a beta of 1.00. The stock has a 50 day moving average price of $7.35 and a 200 day moving average price of $6.03.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Kinross Gold had a return on equity of 11.27% and a net margin of 23.96%. Kinross Gold’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS. As a group, sell-side analysts forecast that Kinross Gold Co. will post 0.63 EPS for the current year.

KGC has been the subject of a number of recent research reports. CIBC lifted their target price on Kinross Gold from $8.60 to $9.00 and gave the stock an “outperformer” rating in a report on Tuesday, May 12th. Scotiabank lifted their target price on Kinross Gold from $8.00 to $8.50 in a report on Monday, July 20th. ValuEngine cut Kinross Gold from a “hold” rating to a “sell” rating in a report on Monday, June 1st. TheStreet upgraded Kinross Gold from a “c+” rating to a “b-” rating in a report on Wednesday, April 22nd. Finally, Raymond James lifted their target price on Kinross Gold from $9.50 to $10.50 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $8.14.

Kinross Gold Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

Recommended Story: Coverage Ratio

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

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