UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $8.47 Million Stock Position in Kinross Gold Corporation $KGC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 5,248.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,559 shares of the mining company’s stock after acquiring an additional 351,855 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Kinross Gold were worth $8,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Kinross Gold in the 4th quarter valued at about $518,656,000. Man Group plc purchased a new position in Kinross Gold during the second quarter valued at approximately $298,152,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kinross Gold during the second quarter valued at approximately $264,652,000. Legal & General Group Plc acquired a new position in Kinross Gold in the 2nd quarter valued at approximately $244,762,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Kinross Gold in the 2nd quarter valued at approximately $222,974,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE KGC opened at $30.87 on Tuesday. 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 stock has a market capitalization of $36.57 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.83 and a beta of 0.84. The company has a 50 day moving average price of $26.52 and a two-hundred day moving average price of $28.95. Kinross Gold Corporation has a 12-month low of $21.61 and a 12-month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. As a group, equities analysts predict that Kinross Gold Corporation will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a $0.04 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s dividend payout ratio is currently 6.06%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on KGC shares. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Jefferies Financial Group dropped their price target on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Scotiabank cut their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Wall Street Zen cut Kinross Gold from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Zacks Research cut Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.43.

Kinross Gold Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.