Zurcher Kantonalbank Zurich Cantonalbank Has $11.85 Million Stock Holdings in Kinross Gold Co. (NYSE:KGC)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 33.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,263,451 shares of the mining company’s stock after selling 641,540 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.10% of Kinross Gold worth $11,849,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Atlas Capital Advisors LLC bought a new position in shares of Kinross Gold during the second quarter worth approximately $40,000. Fifth Third Bancorp increased its position in Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after buying an additional 9,375 shares during the period. Blue Trust Inc. lifted its holdings in shares of Kinross Gold by 113.1% during the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after buying an additional 6,011 shares in the last quarter. Corundum Trust Company INC bought a new stake in shares of Kinross Gold in the third quarter valued at about $94,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Kinross Gold in the third quarter valued at about $94,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $9.71 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $11.93 billion, a PE ratio of 15.92, a PEG ratio of 0.44 and a beta of 1.22. The firm has a 50 day moving average of $9.93 and a 200-day moving average of $9.01. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. On average, equities research analysts predict that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Analyst Ratings Changes

Several analysts have weighed in on KGC shares. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group lifted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Scotiabank increased their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $11.13.

Kinross Gold 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.