Kinross Gold Corporation $KGC Shares Newly Acquired by Convergence Financial LLC

Key Points

• Convergence Financial LLC acquired 52,792 Kinross Gold shares during the third quarter, valued at approximately $1.27 million. Institutional investors and hedge funds collectively own 63.69% of the company.
• Kinross reported quarterly EPS of $0.50, beating the $0.46 consensus estimate, although revenue of $1.75 billion fell short of expectations. Shares opened at $22.97, near the lower end of their 52-week range.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $38.06, but elevated costs, higher interest rates and a stronger U.S. dollar remain potential headwinds.

Convergence Financial LLC purchased a new stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 52,792 shares of the mining company's stock, valued at approximately $1,271,000.

Other hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH increased its holdings in Kinross Gold by 17.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 9,596,638 shares of the mining company's stock worth $227,141,000 after buying an additional 1,395,576 shares during the period. U S Global Investors Inc. raised its position in Kinross Gold by 95.4% during the 1st quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company's stock worth $5,962,000 after buying an additional 95,363 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in Kinross Gold during the 1st quarter worth approximately $2,263,000. Deutsche Bank AG purchased a new position in Kinross Gold during the 2nd quarter worth approximately $217,800,000. Finally, Andra AP fonden raised its position in Kinross Gold by 10.0% during the 2nd quarter. Andra AP fonden now owns 867,872 shares of the mining company's stock worth $20,499,000 after buying an additional 78,900 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Down 0.1%

Shares of KGC opened at $22.97 on Thursday. Kinross Gold Corporation has a 52 week low of $21.82 and a 52 week high of $39.11. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $27.14 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 0.74 and a beta of 0.82. The stock's 50-day moving average price is $26.84 and its 200-day moving average price is $28.96.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, October 28th. The mining company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.46 by $0.04. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.94 billion. On average, sell-side analysts predict that Kinross Gold Corporation will post 2.41 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on KGC shares. TD Securities dropped their price objective on shares of Kinross Gold from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, September 24th. Weiss Ratings lowered shares of Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, October 23rd. Canaccord Genuity Group cut their price objective on shares of Kinross Gold from $52.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, September 24th. Citigroup reissued a "buy" rating on shares of Kinross Gold in a report on Monday, September 28th. Finally, Zacks Research upgraded shares of Kinross Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of "Moderate Buy" and an average target price of $38.06.

Key Headlines Impacting Kinross Gold

Here are the key news stories impacting Kinross Gold this week:

• Positive Sentiment: Kinross earned $0.50 per share in the third quarter, exceeding the Zacks consensus estimate of $0.46 and improving from $0.44 a year earlier. Kinross Gold Beats Q3 Earnings Estimates
• Positive Sentiment: Management said the company remains on track for updated guidance, grade-enhancement projects are advancing, and the Redbird project has produced its first gold. These milestones support expectations for future production and operating performance. Kinross Reports 2026 Third-Quarter Results
• Positive Sentiment: The board declared a quarterly dividend of US$0.04 per share, payable December 3 to shareholders of record November 19. Kinross also said its return-of-capital program has increased to 50% and that it has repurchased 5% of outstanding shares since April 2025. Kinross Declares Quarterly Dividend
• Neutral Sentiment: An investor-alert law firm is investigating potential claims involving Kinross. Such announcements are often solicitations and do not establish wrongdoing, but they may create short-term headline risk. Pomerantz Investor Alert
• Negative Sentiment: Reports indicated costs increased about 20% despite record gold prices. Higher all-in sustaining costs could limit margin expansion and reduce the benefit of strong bullion prices. Kinross Gold Q3 2026 Costs
• Negative Sentiment: Higher interest rates and a stronger U.S. dollar are broader headwinds for gold miners, while commentary noted that Kinross had already experienced a large run-up followed by a steep pullback. Continued rate increases could pressure mining-sector valuations.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.

Kinross's producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.

Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.

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