Ninety One UK Ltd Cuts Stock Position in Kinross Gold Co. (NYSE:KGC)

Ninety One UK Ltd reduced its holdings in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,539,676 shares of the mining company's stock after selling 481,859 shares during the quarter. Ninety One UK Ltd owned about 0.37% of Kinross Gold worth $42,139,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capstone Investment Advisors LLC bought a new stake in Kinross Gold in the third quarter worth approximately $774,000. Mediolanum International Funds Ltd bought a new stake in Kinross Gold in the fourth quarter worth approximately $2,506,000. International Assets Investment Management LLC bought a new stake in Kinross Gold in the third quarter worth approximately $780,000. Geode Capital Management LLC increased its holdings in Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company's stock worth $54,803,000 after purchasing an additional 828,456 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Kinross Gold by 25.7% during the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company's stock valued at $3,186,000 after acquiring an additional 69,520 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold presently has an average rating of "Buy" and an average price target of $11.13.

Kinross Gold Stock Up 3.4 %

Shares of NYSE:KGC traded up $0.40 during mid-day trading on Wednesday, hitting $11.87. 24,444,719 shares of the company traded hands, compared to its average volume of 21,688,652. The stock has a market cap of $14.58 billion, a P/E ratio of 19.45, a P/E/G ratio of 0.61 and a beta of 1.23. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 12-month low of $4.75 and a 12-month high of $12.02. The stock has a 50-day moving average price of $10.07 and a two-hundred day moving average price of $9.67.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Kinross Gold's quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share. On average, equities research analysts forecast that Kinross Gold Co. will post 0.72 earnings per share for the current 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.