Intact Investment Management Inc. Buys Shares of 36,300 Kinross Gold Co. (NYSE:KGC)

Intact Investment Management Inc. bought a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 36,300 shares of the mining company’s stock, valued at approximately $340,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Atlas Capital Advisors LLC acquired a new position in shares of Kinross Gold during the 2nd quarter worth approximately $40,000. Bright Futures Wealth Management LLC. purchased a new position in Kinross Gold during the first quarter worth $70,000. Fifth Third Bancorp raised its holdings in shares of Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after acquiring an additional 9,375 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Kinross Gold by 113.1% in the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after acquiring an additional 6,011 shares in the last quarter. Finally, Corundum Trust Company INC acquired a new stake in shares of Kinross Gold during the third quarter valued at $94,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.5 %

Shares of NYSE KGC opened at $10.02 on Wednesday. The stock has a market capitalization of $12.32 billion, a PE ratio of 24.44, a P/E/G ratio of 0.51 and a beta of 1.22. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average of $9.66 and a 200-day moving average of $8.66. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.82.

Analyst Upgrades and Downgrades

KGC has been the subject of several analyst reports. CIBC upped their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group upped their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Scotiabank lifted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Kinross Gold Company Profile

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.