Van Eck Associates Corp Lowers stake in Kinross Gold Corporation (USA) (KGC)

Kinross Gold Corporation (USA) (KGC) : Van Eck Associates Corp reduced its stake in Kinross Gold Corporation (USA) by 3.49% during the most recent quarter end. The investment management company now holds a total of 73,222,760 shares of Kinross Gold Corporation (USA) which is valued at $379.3 Million after selling 2,650,920 shares in Kinross Gold Corporation (USA) , the firm said in a disclosure report filed with the SEC on May 13, 2016.Kinross Gold Corporation (USA) makes up approximately 2.24% of Van Eck Associates Corp’s portfolio.

Other Hedge Funds, Including , Connor Clark Lunn Investment Management Ltd. boosted its stake in KGC in the latest quarter, The investment management firm added 13,177,095 additional shares and now holds a total of 27,339,654 shares of Kinross Gold Corporation (USA) which is valued at $141.6 Million. Kinross Gold Corporation (USA) makes up approx 1.07% of Connor Clark Lunn Investment Management Ltd.’s portfolio. First Allied Advisory Services added KGC to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $51,800.Artisan Partners Limited Partnership reduced its stake in KGC by selling 10,124,034 shares or 25.2% in the most recent quarter. The Hedge Fund company now holds 30,047,935 shares of KGC which is valued at $155.6 Million. Kinross Gold Corporation (USA) makes up approx 0.32% of Artisan Partners Limited Partnership’s portfolio.Scotia Capital boosted its stake in KGC in the latest quarter, The investment management firm added 115,496 additional shares and now holds a total of 297,207 shares of Kinross Gold Corporation (USA) which is valued at $1.5 Million. Kinross Gold Corporation (USA) makes up approx 0.04% of Scotia Capital’s portfolio.Blackrock Fund Advisors boosted its stake in KGC in the latest quarter, The investment management firm added 84,093 additional shares and now holds a total of 1,149,731 shares of Kinross Gold Corporation (USA) which is valued at $6 Million.

Kinross Gold Corporation (USA) opened for trading at $4.31 and hit $4.47 on the upside on Wednesday, eventually ending the session at $4.41, with a gain of 1.38% or 0.06 points. The heightened volatility saw the trading volume jump to 1,06,89,882 shares. Company has a market cap of $5,487 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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