Ruffer Llp Lowers stake in Kinross Gold Corporation (USA) (KGC)

Kinross Gold Corporation (USA) (KGC) : Ruffer Llp reduced its stake in Kinross Gold Corporation (USA) by 41.09% during the most recent quarter end. The investment management company now holds a total of 12,880,294 shares of Kinross Gold Corporation (USA) which is valued at $68,007,952 after selling 8,985,573 shares in Kinross Gold Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Kinross Gold Corporation (USA) makes up approximately 2.90% of Ruffer Llp’s portfolio.

Other Hedge Funds, Including , I.g. Investment Management Ltd. boosted its stake in KGC in the latest quarter, The investment management firm added 748,012 additional shares and now holds a total of 1,170,123 shares of Kinross Gold Corporation (USA) which is valued at $6,178,249. Kinross Gold Corporation (USA) makes up approx 0.02% of I.g. Investment Management Ltd.’s portfolio.Great West Life Assurance Co Can reduced its stake in KGC by selling 682,852 shares or 10.18% in the most recent quarter. The Hedge Fund company now holds 6,025,354 shares of KGC which is valued at $32,717,672. Kinross Gold Corporation (USA) makes up approx 0.10% of Great West Life Assurance Co Can’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in KGC by selling 851,126 shares or 43.54% in the most recent quarter. The Hedge Fund company now holds 1,103,466 shares of KGC which is valued at $5,991,820. Kinross Gold Corporation (USA) makes up approx 0.08% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.

Kinross Gold Corporation (USA) closed down -0.09 points or -1.75% at $5.04 with 1,76,27,695 shares getting traded on Wednesday. Post opening the session at $5.08, the shares hit an intraday low of $4.87 and an intraday high of $5.105 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Kinross Gold Corporation (USA) reported $-0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.01. The company had revenue of $876.40 million for the quarter, compared to analysts expectations of $871.63 million. The company’s revenue was up 16.0% 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). Citigroup Initiated Kinross Gold Corporation (USA) on Aug 2, 2016 to “Neutral”, Price Target of the shares are set at $5.50.Kinross Gold Corporation (USA) was Upgraded by Jefferies to ” Hold” on Jul 14, 2016. Company shares were Upgraded by Deutsche Bank on Jul 6, 2016 to ” Hold”, Firm has raised the Price Target to $ 4.50 from a previous price target of $3.10 .

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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