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

Key Points

• UBS AM has reduced its position in Kinross Gold Corporation by 7.5%, holding approximately 2.4 million shares valued at around $30.42 million as of the latest filing.
• Several hedge funds, including Boston Partners and Goldman Sachs, have significantly increased their holdings in Kinross Gold, reflecting a growing institutional interest in the company.
• Kinross Gold has reported a net margin of 25.18% and a year-over-year revenue increase of 41.7%, with earnings exceeding analyst expectations in its latest quarterly earnings announcement.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC trimmed its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 0.20% of Kinross Gold worth $30,418,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KGC. Cetera Investment Advisers lifted its stake in Kinross Gold by 13.0% in the 4th quarter. Cetera Investment Advisers now owns 79,680 shares of the mining company's stock valued at $739,000 after purchasing an additional 9,194 shares during the last quarter. Focus Partners Wealth lifted its stake in Kinross Gold by 21.6% in the 4th quarter. Focus Partners Wealth now owns 20,494 shares of the mining company's stock valued at $190,000 after purchasing an additional 3,638 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Kinross Gold by 24.0% in the 4th quarter. Quantinno Capital Management LP now owns 45,921 shares of the mining company's stock valued at $426,000 after purchasing an additional 8,895 shares during the last quarter. Tidal Investments LLC lifted its stake in Kinross Gold by 176.9% in the 4th quarter. Tidal Investments LLC now owns 133,111 shares of the mining company's stock valued at $1,234,000 after purchasing an additional 85,043 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Kinross Gold by 51.4% in the 4th quarter. Two Sigma Investments LP now owns 6,477,314 shares of the mining company's stock valued at $60,045,000 after purchasing an additional 2,199,717 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on KGC shares. CIBC increased their price objective 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. Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a research note on Monday, June 30th. UBS Group increased their price objective on shares of Kinross Gold from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Friday. Canaccord Genuity Group increased their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada increased 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 note on Wednesday, June 4th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.07.

Kinross Gold Trading Up 5.4%

NYSE KGC traded up $1.20 during mid-day trading on Friday, reaching $23.46. 29,871,272 shares of the stock were exchanged, compared to its average volume of 14,906,971. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $23.65. The stock has a 50 day simple moving average of $19.18 and a 200-day simple moving average of $15.84. The stock has a market cap of $28.44 billion, a P/E ratio of 18.92, a P/E/G ratio of 0.72 and a beta of 0.62. 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 - Get Free Report) TSE: K last announced its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned $0.14 earnings per share. Kinross Gold's quarterly revenue was up 41.7% on a year-over-year basis. On average, analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is currently 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.