Union Bancaire Privee UBP SA Has $19.55 Million Stock Position in Kinross Gold Corporation $KGC

by · The Cerbat Gem

Union Bancaire Privee UBP SA lowered its stake in Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) by 15.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 801,277 shares of the mining company’s stock after selling 151,246 shares during the quarter. Union Bancaire Privee UBP SA owned approximately 0.07% of Kinross Gold worth $19,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Kinross Gold in the first quarter worth about $16,288,000. HighTower Advisors LLC lifted its position in shares of Kinross Gold by 697.3% in the 1st quarter. HighTower Advisors LLC now owns 97,742 shares of the mining company’s stock valued at $1,233,000 after acquiring an additional 85,483 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kinross Gold by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,022,770 shares of the mining company’s stock valued at $126,378,000 after acquiring an additional 603,388 shares in the last quarter. Cresset Asset Management LLC boosted its stake in Kinross Gold by 3.0% in the 1st quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company’s stock worth $438,000 after purchasing an additional 1,013 shares during the period. Finally, Northern Trust Corp grew its position in Kinross Gold by 12.0% during the 1st quarter. Northern Trust Corp now owns 1,326,988 shares of the mining company’s stock worth $16,733,000 after purchasing an additional 141,967 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGC has been the subject of a number of research analyst reports. Raymond James Financial increased their target price on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 10th. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a report on Thursday, October 23rd. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 30th. Zacks Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, CIBC raised their price objective on Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $29.81.

Check Out Our Latest Report on KGC

Kinross Gold Trading Down 1.1%

Kinross Gold stock opened at $27.84 on Wednesday. Kinross Gold Corporation has a 12 month low of $8.99 and a 12 month high of $29.23. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. The stock has a market cap of $33.61 billion, a P/E ratio of 19.47, a P/E/G ratio of 0.41 and a beta of 0.74. The company’s fifty day simple moving average is $25.54 and its 200-day simple moving average is $21.09.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last released its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, sell-side analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.035 per share. The ex-dividend date was Wednesday, November 26th. This represents a $0.14 annualized dividend and a dividend yield of 0.5%. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio is presently 9.79%.

Kinross Gold Profile

(Free Report)

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.

Featured Articles