Union Bancaire Privee UBP SA Buys 258,953 Shares of Kinross Gold Corporation $KGC

Union Bancaire Privee UBP SA increased its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 35.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 988,353 shares of the mining company’s stock after purchasing an additional 258,953 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Kinross Gold were worth $30,165,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Kinross Gold by 7.8% in the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the period. Vanguard Group Inc. boosted its position in Kinross Gold by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after purchasing an additional 148,845 shares during the last quarter. Boston Partners boosted its position in Kinross Gold by 1.6% in the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after purchasing an additional 707,498 shares during the last quarter. FIL Ltd grew its stake in shares of Kinross Gold by 4.8% during the 4th quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock valued at $820,969,000 after purchasing an additional 1,326,833 shares during the period. Finally, Norges Bank purchased a new stake in shares of Kinross Gold during the 4th quarter valued at about $518,656,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Up 0.9%

KGC opened at $24.25 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $39.11. The firm’s fifty day moving average is $28.88 and its 200 day moving average is $30.81. The stock has a market cap of $28.83 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 0.85 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.Kinross Gold’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 EPS. On average, sell-side analysts forecast that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is currently 6.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on KGC shares. Weiss Ratings downgraded shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $36.00 to $45.00 in a report on Thursday, March 12th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. UBS Group cut their price objective on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Finally, Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.