Golden State Equity Partners Sells 30,000 Shares of Kinross Gold Co. (NYSE:KGC)

Golden State Equity Partners reduced its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 50.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the mining company’s stock after selling 30,000 shares during the period. Golden State Equity Partners’ holdings in Kinross Gold were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avior Wealth Management LLC boosted its stake in shares of Kinross Gold by 246.3% in the 4th quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after buying an additional 5,140 shares during the last quarter. Corundum Trust Company INC purchased a new position in shares of Kinross Gold in the 3rd quarter worth $94,000. OneDigital Investment Advisors LLC purchased a new position in shares of Kinross Gold in the 3rd quarter worth $94,000. EP Wealth Advisors LLC purchased a new position in shares of Kinross Gold in the 3rd quarter worth $95,000. Finally, Fiera Capital Corp purchased a new position in shares of Kinross Gold in the 3rd quarter worth $99,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $11.13.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $11.45 on Tuesday. The stock’s 50-day simple moving average is $10.01 and its 200-day simple moving average is $9.64. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $11.68. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 0.61 and a beta of 1.23. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.12 earnings per share. The business’s revenue was up 29.9% on a year-over-year basis. As a group, analysts expect that Kinross Gold Co. will post 0.72 earnings per share for the current fiscal year.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.