58,680 Shares in Kinross Gold Co. (NYSE:KGC) Purchased by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA acquired a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 58,680 shares of the mining company’s stock, valued at approximately $519,000.

A number of other hedge funds also recently added to or reduced their stakes in KGC. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Kinross Gold by 5.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after buying an additional 642,007 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Kinross Gold by 0.7% during the third quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock valued at $90,022,000 after buying an additional 70,376 shares during the last quarter. Artemis Investment Management LLP lifted its position in shares of Kinross Gold by 28.0% during the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock valued at $80,191,000 after buying an additional 1,871,939 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Kinross Gold by 7.3% during the third quarter. The Manufacturers Life Insurance Company now owns 7,094,622 shares of the mining company’s stock valued at $66,509,000 after buying an additional 480,568 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Kinross Gold by 8.6% during the third quarter. CIBC Asset Management Inc now owns 6,050,512 shares of the mining company’s stock valued at $56,705,000 after buying an additional 477,529 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $10.88 on Wednesday. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $10.95. The company has a 50 day moving average price of $9.92 and a 200 day moving average price of $9.58. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $13.37 billion, a P/E ratio of 17.83, a PEG ratio of 0.90 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly 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 net margin of 15.23% and a return on equity of 11.49%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $0.12 EPS. Kinross Gold’s quarterly revenue was up 29.9% on a year-over-year basis. Sell-side analysts expect that Kinross Gold Co. will post 0.72 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were issued a $0.03 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.10%. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group increased their price objective 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. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.