Donald Smith & CO. Inc. Reduces Holdings in Kinross Gold Co., Exceeds Earnings Expectations

Donald Smith & CO. Inc. recently reduced its holdings in Kinross Gold Co., as indicated in its Form 13F filing with the Securities and Exchange Commission for the first quarter of this year. The investment firm sold 200,436 shares of the mining company’s stock during the quarter, resulting in a decrease of 1.2% in its position. As a result, Donald Smith & CO. Inc. now owns 16,558,878 shares of Kinross Gold, making it the firm’s 13th largest holding, comprising approximately 2.9% of its total holdings.

At the end of the reporting period, Donald Smith & CO. Inc.’s ownership in Kinross Gold was valued at $77,992,000. This adjustment may indicate changes in investment strategy or a reassessment of the mining industry by Donald Smith & CO. Inc.

In related news, Kinross Gold recently announced its financial results for the quarter ending on August 2nd. The company reported earnings per share (EPS) of $0.14 for the quarter, surpassing analysts’ expectations by $0.06 per share.

Kinross Gold also exceeded revenue projections for the same period, earning $1.09 billion compared to an estimate of $1.01 billion by analysts. This represents a significant increase in quarterly revenue of 33.0% compared to the previous year.

Additionally, Kinross Gold managed to achieve a return on equity (ROE) of 7.15% and a net margin of 5.06% during this quarter.

Analysts predict that Kinross Gold will maintain steady performance throughout this fiscal year and are projecting an EPS value of 0.39 for the current fiscal year.

With these positive financial indicators and noteworthy earnings beat against estimates, investors should carefully consider their positions regarding Kinross Gold and evaluate whether it aligns with their investment objectives and risk tolerance.

As with any investment, it is essential to conduct thorough research and analysis before making a decision. Investors should explore all available information, such as company financials, industry trends, and market conditions, to make informed choices regarding their portfolios.

Please note that the above information is based on data available as of September 13, 2023, and investors should refer to the most recent updates for accurate and up-to-date information regarding Donald Smith & CO. Inc.’s holdings in Kinross Gold.

Kinross Gold Corporation



Updated on: 13/09/2023

Price Target

Current $4.92

Concensus $8.08

Low $4.00

Median $7.98

High $11.14

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Social Sentiments

We did not find social sentiment data for this stock

Analyst Ratings

Analyst / firm Rating
RBC Capital Sell
Jackie Przybylowski
BMO Capital
Jackie Przybylowski
BMO Capital
Tyler Langton
J.P. Morgan
Michael Jalonen
Bank of America Securities

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Prominent Investors Adjust Holdings of Kinross Gold Corp. Shares: Analyzing Market Dynamics and Analyst Ratings

In recent months, several prominent investors have made significant adjustments to their holdings of Kinross Gold Corp. (KGC) shares. This has caught the attention of industry analysts and brought about a sense of perplexity in the investment community.

One such investor, Advisor Partners II LLC, increased its stake in Kinross Gold by 3.1% during the first quarter. The company now owns 76,554 shares of Kinross Gold’s stock valued at $361,000 after purchasing an additional 2,305 shares in the last quarter. Berkeley Capital Partners LLC also raised its stake in the mining company by 5.6% during the same period, now owning 43,709 shares valued at $206,000 after acquiring an additional 2,317 shares.

First Trust Advisors LP and Neuberger Berman Group LLC were also notable investors who increased their holdings of Kinross Gold during the first quarter. First Trust Advisors LP lifted its holdings by 6.6%, now owning 38,262 shares worth $180,000 after acquiring an additional 2,377 shares. Neuberger Berman Group LLC saw a significant boost of 19.7%, owning 14,458 shares valued at $85,000 after purchasing an additional 2,383 shares.

Vanguard Personalized Indexing Management LLC rounded out the list of institutional investors who modified their holdings of KGC stock during this period. They raised their position by 7.6%, owning 38,256 shares worth $180,000 after purchasing an additional 2,689 shares.

These recent changes have resulted in approximately half of Kinross Gold’s stock being owned by institutional investors. While it may be challenging to grasp the motivations behind these adjustments fully, it undoubtedly adds a layer of complexity to understanding the current market dynamics surrounding KGC.

As for KGC itself, on September 13th when this article is written., the stock opened at $4.92. The company has exhibited a debt-to-equity ratio of 0.32, a quick ratio of 0.61, and a current ratio of 1.57. Over the past 50 days, the stock has shown a simple moving average of $4.90, while the two-hundred-day simple moving average stands at $4.78.

Kinross Gold also recently announced its quarterly dividend payment on September 8th, providing investors with some return on their investments in the company’s shares. Dividend payments are an essential consideration for many investors seeking long-term stability and growth potential.

Equities research analysts have also weighed in on Kinross Gold’s performance recently, adding further layers of complexity to understanding the stock’s overall outlook. downgraded KGC from a “strong-buy” rating to a “buy” rating on September 6th. Meanwhile, CSFB gave the company a “negative” rating in August and raised their target price to $5.50 from $5.25.

Despite some cautious views, there are still positive sentiments surrounding Kinross Gold among analysts. Desjardins initiated coverage with a “buy” rating in September, while Scotiabank raised their target price to $6.50 and gave the company an “outperform” rating in August. Similarly, CIBC raised their target price to $6.75 from $6.60 and also issued an “outperform” rating.

In summary, recent modifications made by large investors to their holdings of Kinross Gold have sparked curiosity within the investment community and brought forth various ratings and target prices by equities research analysts during this period of uncertainty in global markets.

As with any investment analysis, it is essential to diligently consider all factors involved before making any financial decisions regarding Kinross Gold or any other similar investments based on individual investment goals and risk appetite.

*Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice.

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