Union Bancaire Privee UBP SA Increases Stock Position in Kinross Gold Corporation $KGC

Key Points

• Union Bancaire Privee UBP SA significantly increased its stake in Kinross Gold Corporation by 344.4% during the second quarter, owning 952,523 shares valued at approximately $13.74 million.
• Multiple analysts have upgraded Kinross Gold's rating, with price targets raised from $14.00 to $27.00, reflecting positive market sentiment on its performance.
• Kinross Gold reported a 41.7% year-over-year increase in revenue for the last quarter, achieving $1.75 billion and EPS of $0.44, exceeding analysts’ expectations.

Union Bancaire Privee UBP SA grew its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 344.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 952,523 shares of the mining company's stock after purchasing an additional 738,173 shares during the period. Union Bancaire Privee UBP SA owned about 0.08% of Kinross Gold worth $13,738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in shares of Kinross Gold in the first quarter valued at about $55,000. Farther Finance Advisors LLC raised its holdings in shares of Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after purchasing an additional 3,659 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Kinross Gold in the first quarter valued at about $77,000. Bruce G. Allen Investments LLC raised its holdings in shares of Kinross Gold by 68.6% in the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after purchasing an additional 2,561 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in shares of Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after purchasing an additional 1,787 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and increased their target price for the company from $14.00 to $18.00 in a report on Thursday, June 26th. UBS Group raised their price objective on shares of Kinross Gold from $20.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, September 19th. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. CIBC raised their price objective on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada raised their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a report 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.07.

Kinross Gold Trading Up 1.1%

Shares of Kinross Gold stock opened at $24.38 on Tuesday. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $24.91. The firm has a market cap of $29.56 billion, a PE ratio of 19.66, a PEG ratio of 0.77 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. The company has a 50 day simple moving average of $20.19 and a two-hundred day simple moving average of $16.44.

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 (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 business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business posted $0.14 earnings per share. Kinross Gold's revenue for the quarter was up 41.7% on a year-over-year basis. Analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.5%. Kinross Gold's payout ratio is presently 9.68%.

Kinross Gold Company 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.

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