Union Bancaire Privee UBP SA Raises Stock Holdings in Kinross Gold Corporation $KGC

Union Bancaire Privee UBP SA increased its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 344.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 952,523 shares of the mining company’s stock after purchasing an additional 738,173 shares during the period. Union Bancaire Privee UBP SA’s holdings in Kinross Gold were worth $13,738,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Capital Investment Advisors LLC increased its stake in shares of Kinross Gold by 3.1% in the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company’s stock worth $351,000 after buying an additional 850 shares during the period. Cresset Asset Management LLC increased its stake in shares of Kinross Gold by 3.0% in the first quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company’s stock worth $438,000 after buying an additional 1,013 shares during the period. S.A. Mason LLC increased its stake in shares of Kinross Gold by 6.0% in the first quarter. S.A. Mason LLC now owns 22,250 shares of the mining company’s stock worth $281,000 after buying an additional 1,250 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Kinross Gold by 12.5% in the first quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company’s stock worth $142,000 after buying an additional 1,250 shares during the period. Finally, Cigna Investments Inc. New increased its position in Kinross Gold by 6.4% during the 1st quarter. Cigna Investments Inc. New now owns 23,096 shares of the mining company’s stock valued at $291,000 after purchasing an additional 1,386 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 20th. Canaccord Genuity Group boosted their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a research report on Thursday, August 7th. Royal Bank Of Canada boosted their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Finally, CIBC boosted their price objective on shares of Kinross Gold from $21.00 to $22.00 and gave the company an “outperformer” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.07.

Kinross Gold Trading Up 1.1%

Shares of NYSE KGC opened at $24.38 on Tuesday. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $24.91. The stock has a market cap of $29.56 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 0.77 and a beta of 0.62. The firm has a 50-day moving average of $20.19 and a 200 day moving average of $16.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. Kinross Gold’s revenue was up 41.7% on a year-over-year basis. During the same period last year, the company posted $0.14 EPS. As a group, sell-side analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a $0.03 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s payout ratio is presently 9.68%.

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.