AGF Investments Inc. Increases Holdings in Kinross Gold Co. (KGC)

AGF Investments Inc. raised its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 45.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,169,046 shares of the mining company’s stock after buying an additional 679,286 shares during the period. AGF Investments Inc. owned about 0.17% of Kinross Gold worth $9,353,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in KGC. Investec Asset Management LTD boosted its position in shares of Kinross Gold by 157.3% in the third quarter. Investec Asset Management LTD now owns 7,141,303 shares of the mining company’s stock worth $30,251,000 after purchasing an additional 4,365,752 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Kinross Gold by 34.6% in the third quarter. Bank of New York Mellon Corp now owns 14,288,354 shares of the mining company’s stock worth $60,582,000 after purchasing an additional 3,672,988 shares during the period. TD Asset Management Inc. boosted its position in shares of Kinross Gold by 37.8% in the third quarter. TD Asset Management Inc. now owns 10,730,465 shares of the mining company’s stock worth $45,388,000 after purchasing an additional 2,945,300 shares during the period. Tocqueville Asset Management L.P. bought a new position in shares of Kinross Gold in the third quarter worth approximately $12,058,000. Finally, Mackenzie Financial Corp boosted its position in shares of Kinross Gold by 78.1% in the third quarter. Mackenzie Financial Corp now owns 4,941,519 shares of the mining company’s stock worth $20,952,000 after purchasing an additional 2,166,213 shares during the period. 55.89% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Co. (NYSE:KGC) opened at $4.27 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.18 and a current ratio of 3.96. Kinross Gold Co. has a 12-month low of $3.15 and a 12-month high of $4.91. The firm has a market cap of $4,900.71, a price-to-earnings ratio of 43.67 and a beta of 0.24.

A number of equities analysts have weighed in on KGC shares. Macquarie upgraded shares of Kinross Gold from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $4.40 to $4.37 in a research report on Friday, November 10th. TD Securities set a $6.00 price target on shares of Kinross Gold and gave the stock a “buy” rating in a research report on Thursday, October 19th. Royal Bank of Canada set a $5.00 price target on shares of Kinross Gold and gave the stock a “buy” rating in a research report on Monday, October 30th. BMO Capital Markets set a $5.00 price target on shares of Kinross Gold and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, Desjardins reiterated a “sell” rating on shares of Kinross Gold in a research report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $4.83.

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About Kinross Gold

Kinross Gold Corporation is a 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, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.

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

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