UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $30.42 Million Holdings in Kinross Gold Corporation $KGC

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC cut its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,412,217 shares of the mining company's stock after selling 194,919 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.20% of Kinross Gold worth $30,418,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KGC. Boston Partners boosted its holdings in Kinross Gold by 36.5% during the first quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock valued at $632,797,000 after acquiring an additional 12,705,061 shares during the period. Artemis Investment Management LLP boosted its holdings in Kinross Gold by 365.8% during the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock valued at $86,718,000 after acquiring an additional 5,400,447 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Kinross Gold by 95.7% during the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company's stock valued at $87,639,000 after acquiring an additional 3,398,687 shares during the period. AustralianSuper Pty Ltd bought a new stake in Kinross Gold during the first quarter valued at about $33,877,000. Finally, Mackenzie Financial Corp boosted its holdings in Kinross Gold by 21.2% during the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company's stock valued at $129,435,000 after acquiring an additional 2,438,445 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. CIBC increased their target price on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and lifted their target price for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. UBS Group started coverage on Kinross Gold in a research report on Monday, August 4th. They set a "buy" rating and a $20.00 target price on the stock. Finally, Canaccord Genuity Group lifted their target price on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.07.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $23.26 on Tuesday. The firm has a fifty day moving average of $18.59 and a two-hundred day moving average of $15.57. The stock has a market capitalization of $28.27 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 0.77 and a beta of 0.61. Kinross Gold Corporation has a 52 week low of $8.99 and a 52 week high of $23.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The firm's revenue was up 41.7% on a year-over-year basis. As a group, equities research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

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

About Kinross Gold

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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