OppenheimerFunds Inc. raised its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 131.4% during the second quarter, HoldingsChannel.com reports. The fund owned 457,800 shares of the mining company’s stock after buying an additional 260,000 shares during the period. OppenheimerFunds Inc.’s holdings in Kinross Gold were worth $1,721,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Regentatlantic Capital LLC raised its holdings in Kinross Gold by 152.1% during the second quarter. Regentatlantic Capital LLC now owns 28,135 shares of the mining company’s stock valued at $106,000 after acquiring an additional 16,975 shares during the period. GSA Capital Partners LLP raised its holdings in Kinross Gold by 209.1% during the first quarter. GSA Capital Partners LLP now owns 97,619 shares of the mining company’s stock valued at $386,000 after acquiring an additional 66,036 shares during the period. Malaga Cove Capital LLC raised its holdings in Kinross Gold by 75.3% during the second quarter. Malaga Cove Capital LLC now owns 134,255 shares of the mining company’s stock valued at $505,000 after acquiring an additional 57,673 shares during the period. Engineers Gate Manager LP bought a new stake in Kinross Gold during the second quarter valued at about $585,000. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Kinross Gold by 147.0% during the first quarter. Dynamic Technology Lab Private Ltd now owns 201,375 shares of the mining company’s stock valued at $795,000 after acquiring an additional 119,836 shares during the period. 53.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of KGC stock opened at $2.94 on Tuesday. Kinross Gold Co. has a 12-month low of $2.67 and a 12-month high of $4.78. The company has a current ratio of 3.71, a quick ratio of 1.88 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3.69 billion, a PE ratio of 21.00 and a beta of 0.12.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, August 1st. The mining company reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. Kinross Gold had a return on equity of 5.73% and a net margin of 11.67%. The firm had revenue of $775.00 million for the quarter, compared to analysts’ expectations of $803.96 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The business’s revenue was down 10.8% compared to the same quarter last year. analysts predict that Kinross Gold Co. will post 0.19 EPS for the current year.

A number of equities research analysts have commented on KGC shares. BMO Capital Markets reissued a “hold” rating and set a $3.50 price target on shares of Kinross Gold in a report on Friday. Royal Bank of Canada cut Kinross Gold from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $5.00 to $4.75 in a report on Monday, August 20th. They noted that the move was a valuation call. TD Securities cut Kinross Gold from an “action list buy” rating to a “buy” rating and reduced their target price for the stock from $6.00 to $5.50 in a report on Saturday, July 14th. National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Kinross Gold in a report on Monday, June 18th. Finally, Credit Suisse Group initiated coverage on Kinross Gold in a report on Thursday, September 6th. They issued a “neutral” rating and a $4.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.35.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.

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

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