Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in Kinross Gold Co. (NYSE:KGC)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 33.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,263,451 shares of the mining company's stock after selling 641,540 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.10% of Kinross Gold worth $11,849,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Atlas Capital Advisors LLC purchased a new position in Kinross Gold in the 2nd quarter valued at $40,000. Fifth Third Bancorp lifted its stake in shares of Kinross Gold by 3,524.4% in the second 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 in the last quarter. Blue Trust Inc. lifted its stake in shares of Kinross Gold by 113.1% in 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 acquired a new position in Kinross Gold during the third quarter worth about $94,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in Kinross Gold during the 3rd quarter valued at about $94,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Trading Down 0.9 %

Kinross Gold stock traded down $0.09 during mid-day trading on Friday, hitting $9.71. The company's stock had a trading volume of 11,778,128 shares, compared to its average volume of 17,617,684. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $10.82. 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 firm has a market capitalization of $11.93 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 0.43 and a beta of 1.22. The stock's fifty day moving average is $9.93 and its two-hundred day moving average is $9.01.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.12 EPS. The company's quarterly revenue was up 29.9% on a year-over-year basis. On average, analysts anticipate that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Wednesday, November 27th. Kinross Gold's dividend payout ratio (DPR) is 19.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. Scotiabank boosted their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently 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.