BlackRock Inc. Sells 172,230 Shares of Kinross Gold Co. (KGC)

BlackRock Inc. trimmed its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,997,973 shares of the mining company’s stock after selling 172,230 shares during the quarter. BlackRock Inc. owned about 0.24% of Kinross Gold worth $9,713,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Ruffer LLP increased its position in Kinross Gold by 25.1% during the fourth quarter. Ruffer LLP now owns 68,448,734 shares of the mining company’s stock worth $215,212,000 after acquiring an additional 13,729,045 shares during the period. Vanguard Group Inc increased its position in Kinross Gold by 4.3% during the third quarter. Vanguard Group Inc now owns 34,603,334 shares of the mining company’s stock worth $93,429,000 after acquiring an additional 1,414,800 shares during the period. Vanguard Group Inc. increased its position in Kinross Gold by 4.3% during the third quarter. Vanguard Group Inc. now owns 34,603,334 shares of the mining company’s stock worth $93,429,000 after acquiring an additional 1,414,800 shares during the period. JPMorgan Chase & Co. increased its position in Kinross Gold by 280.0% during the third quarter. JPMorgan Chase & Co. now owns 33,706,930 shares of the mining company’s stock worth $91,009,000 after acquiring an additional 24,835,671 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Kinross Gold by 13.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 15,122,219 shares of the mining company’s stock valued at $40,830,000 after buying an additional 1,832,663 shares during the period. 61.22% of the stock is currently owned by institutional investors and hedge funds.

KGC stock opened at $3.23 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.89 and a current ratio of 2.61. Kinross Gold Co. has a 12 month low of $2.38 and a 12 month high of $4.12. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 32.30 and a beta of -0.09.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 13th. The mining company reported $0.01 EPS for the quarter. Kinross Gold had a negative net margin of 0.73% and a positive return on equity of 2.78%. The firm had revenue of $786.50 million for the quarter, compared to analyst estimates of $761.30 million. During the same period last year, the firm earned $0.01 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast that Kinross Gold Co. will post 0.13 earnings per share for the current fiscal year.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Credit Suisse Group reissued a “hold” rating and issued a $3.00 target price on shares of Kinross Gold in a report on Thursday, February 7th. Raymond James reissued an “outperform” rating and issued a $4.50 target price on shares of Kinross Gold in a report on Thursday, February 14th. Finally, ValuEngine lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $4.07.

WARNING: This piece of content was originally published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international copyright laws. The original version of this piece of content can be read at https://www.baseballdailydigest.com/news/2019/04/22/blackrock-inc-sells-172230-shares-of-kinross-gold-co-kgc.html.

Kinross Gold Company 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.

Featured Story: Understanding Market Liquidity

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

Receive News & Ratings for Kinross Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold and related companies with MarketBeat.com's FREE daily email newsletter.