Ruffer Llp buys $113.3 Million stake in Kinross Gold Corporation (USA) (KGC)

Kinross Gold Corporation (USA) (KGC) : Ruffer Llp scooped up 2,357,006 additional shares in Kinross Gold Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 21,865,867 shares of Kinross Gold Corporation (USA) which is valued at $113.3 Million.Kinross Gold Corporation (USA) makes up approximately 4.59% of Ruffer Llp’s portfolio.

Other Hedge Funds, Including , Rockshelter Capital Management reduced its stake in KGC by selling 10,650 shares or 0.99% in the most recent quarter. The Hedge Fund company now holds 1,064,920 shares of KGC which is valued at $5.5 Million. Kinross Gold Corporation (USA) makes up approx 1.92% of Rockshelter Capital Management’s portfolio.Donald Smith reduced its stake in KGC by selling 366,513 shares or 0.52% in the most recent quarter. The Hedge Fund company now holds 69,714,967 shares of KGC which is valued at $389.7 Million. Kinross Gold Corporation (USA) makes up approx 10.19% of Donald Smith’s portfolio.

Kinross Gold Corporation (USA) opened for trading at $4.95 and hit $5.01 on the upside on Friday, eventually ending the session at $4.97, with a gain of 0.81% or 0.04 points. The heightened volatility saw the trading volume jump to 1,21,20,315 shares. Company has a market cap of $6,183 M.

On the company’s financial health, Kinross Gold Corporation (USA) reported $-0.06 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Feb 10, 2016. Analyst had a consensus of $-0.05. The company had revenue of $706.20 million for the quarter, compared to analysts expectations of $693.07 million. The company’s revenue was down -10.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on Kinross Gold Corporation (USA). Kinross Gold Corporation (USA) was Upgraded by Goldman to ” Neutral” on May 11, 2016. Kinross Gold Corporation (USA) was Downgraded by Credit Suisse to ” Neutral” on May 3, 2016. Company shares were Upgraded by RBC Capital Mkts on Apr 11, 2016 to ” Outperform”, Firm has raised the Price Target to $ 4.75 from a previous price target of $3.50 .

Kinross Gold Corporation is a senior 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. The Company’s segments include Fort Knox Round Mountain Kettle River-Buckhorn Kupol Paracatu Maricunga Tasiast and Chirano. Its gold production and exploration activities are carried out principally in Canada the United States the Russian Federation Brazil Chile Ghana and Mauritania. Its gold is produced in the form of dore which is shipped to refineries for final processing. It also produces and sells silver.

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