UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,784,018 shares of the mining company's stock after selling 143,810 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of Kinross Gold worth $16,698,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of KGC. Artemis Investment Management LLP grew its holdings in shares of Kinross Gold by 321.5% in the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company's stock valued at $55,707,000 after purchasing an additional 5,107,120 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Kinross Gold by 634.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company's stock valued at $36,971,000 after purchasing an additional 3,405,478 shares during the period. National Bank of Canada FI grew its holdings in shares of Kinross Gold by 31.2% in the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company's stock valued at $78,946,000 after purchasing an additional 2,267,999 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Kinross Gold by 25.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company's stock valued at $72,867,000 after purchasing an additional 1,777,076 shares during the period. Finally, Andra AP fonden purchased a new stake in shares of Kinross Gold in the second quarter valued at about $13,181,000. Hedge funds and other institutional investors own 63.69% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Scotiabank upped their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. Jefferies Financial Group upped their target price 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, StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $11.13.
Read Our Latest Stock Analysis on KGC
Kinross Gold Stock Down 1.5 %
Shares of KGC traded down $0.15 during mid-day trading on Friday, hitting $9.75. 13,222,973 shares of the company's stock were exchanged, compared to its average volume of 16,895,974. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 0.45 and a beta of 1.21. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The stock's 50-day moving average is $9.94 and its 200-day moving average is $9.08.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business's quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 earnings per share. On average, sell-side analysts anticipate that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.
Kinross Gold Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.23%. Kinross Gold's dividend payout ratio is presently 19.67%.
About Kinross Gold
(
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.
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![Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=KGC)
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