Quaker Capital Investments LLC raised its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 20.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,497,525 shares of the mining company’s stock after buying an additional 250,000 shares during the period. Kinross Gold Corporation makes up 1.5% of Quaker Capital Investments LLC’s investment portfolio, making the stock its 13th largest position. Quaker Capital Investments LLC owned approximately 0.12% of Kinross Gold Corporation worth $4,657,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Concert Wealth Management Inc. increased its position in Kinross Gold Corporation by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 21,675 shares of the mining company’s stock valued at $106,000 after buying an additional 1,675 shares during the period. Exane Derivatives increased its position in Kinross Gold Corporation by 2,813,200.0% in the third quarter. Exane Derivatives now owns 28,133 shares of the mining company’s stock valued at $118,000 after buying an additional 28,132 shares during the period. Acrospire Investment Management LLC increased its position in Kinross Gold Corporation by 101.9% in the third quarter. Acrospire Investment Management LLC now owns 31,900 shares of the mining company’s stock valued at $134,000 after buying an additional 16,100 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in Kinross Gold Corporation during the second quarter valued at $169,000. Finally, IFP Advisors Inc increased its position in Kinross Gold Corporation by 52.9% in the second quarter. IFP Advisors Inc now owns 42,620 shares of the mining company’s stock valued at $208,000 after buying an additional 14,750 shares during the period. Hedge funds and other institutional investors own 60.70% of the company’s stock.
Shares of Kinross Gold Corporation (NYSE:KGC) traded down 2.69% on Monday, hitting $3.98. The stock had a trading volume of 11,703,947 shares. The firm’s 50-day moving average is $3.62 and its 200 day moving average is $3.92. The stock’s market cap is $4.96 billion. Kinross Gold Corporation has a 1-year low of $2.66 and a 1-year high of $5.82.
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Several equities analysts recently weighed in on KGC shares. TD Securities reiterated a “buy” rating and set a $6.50 target price (down from $7.00) on shares of Kinross Gold Corporation in a research report on Thursday, November 3rd. Canaccord Genuity reiterated a “buy” rating and set a $7.75 target price (down from $8.00) on shares of Kinross Gold Corporation in a research report on Thursday, November 3rd. RBC Capital Markets reiterated a “buy” rating and set a $5.00 target price on shares of Kinross Gold Corporation in a research report on Tuesday, January 3rd. BMO Capital Markets downgraded Kinross Gold Corporation from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $6.50 to $3.75 in a report on Monday, December 19th. Finally, Citigroup Inc. restated a “neutral” rating on shares of Kinross Gold Corporation in a report on Monday, October 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Kinross Gold Corporation presently has an average rating of “Hold” and an average target price of $5.11.
About Kinross Gold Corporation
Kinross Gold Corporation is 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. Its segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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