Zurcher Kantonalbank Zurich Cantonalbank Sells 33,533 Shares of Kinross Gold Co. (NYSE:KGC)

Posted by Defense World Staff on Feb 15th, 2023

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 510,381 shares of the mining company’s stock after selling 33,533 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kinross Gold were worth $1,931,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KGC. DekaBank Deutsche Girozentrale increased its holdings in shares of Kinross Gold by 3.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 118,064 shares of the mining company’s stock worth $424,000 after buying an additional 4,164 shares in the last quarter. Bluefin Capital Management LLC increased its holdings in shares of Kinross Gold by 11.8% during the second quarter. Bluefin Capital Management LLC now owns 253,870 shares of the mining company’s stock worth $952,000 after buying an additional 26,770 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of Kinross Gold during the third quarter worth approximately $38,000. Vontobel Holding Ltd. increased its holdings in shares of Kinross Gold by 0.5% during the third quarter. Vontobel Holding Ltd. now owns 721,000 shares of the mining company’s stock worth $2,711,000 after buying an additional 3,545 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Kinross Gold by 24.7% during the third quarter. Barclays PLC now owns 75,405,857 shares of the mining company’s stock worth $283,526,000 after buying an additional 14,955,650 shares in the last quarter. Institutional investors and hedge funds own 55.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays lowered shares of Kinross Gold from an “overweight” rating to an “equal weight” rating and set a $5.00 price objective for the company. in a report on Monday, January 30th. Raymond James raised their price target on shares of Kinross Gold from $4.50 to $5.00 and gave the company a “market perform” rating in a report on Tuesday, January 31st. Royal Bank of Canada lowered their price target on shares of Kinross Gold from $6.00 to $4.00 and set a “sector perform” rating for the company in a report on Tuesday, December 6th. Canaccord Genuity Group lowered their price target on shares of Kinross Gold from C$8.00 to C$7.25 and set a “buy” rating for the company in a report on Wednesday, November 16th. Finally, TD Securities lowered their price target on shares of Kinross Gold from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, November 11th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.41.

Kinross Gold Price Performance

Shares of KGC stock opened at $4.15 on Wednesday. The firm’s 50 day moving average price is $4.41 and its two-hundred day moving average price is $3.93. The stock has a market cap of $5.07 billion, a PE ratio of -10.64 and a beta of 0.87. Kinross Gold Co. has a 52-week low of $3.00 and a 52-week high of $6.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.28 and a current ratio of 2.98.

Kinross Gold Profile

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Kinross Gold Corp. engages in the production, acquisition, exploration, and development of gold properties. Its mining operations are in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The firm operates through the following business segments: Fort Knox, Round Mountain, Bald Mountain, Kupol, Paracatu, Tasiast, Chirano, and Corporate & Other.