UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Kinross Gold Co. (NYSE:KGC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,784,018 shares of the mining company’s stock after selling 143,810 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Kinross Gold were worth $16,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Private Advisor Group LLC grew its holdings in Kinross Gold by 8.7% during the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after buying an additional 981 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in Kinross Gold by 2.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock valued at $447,000 after buying an additional 1,235 shares in the last quarter. Cetera Advisors LLC grew its holdings in Kinross Gold by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after buying an additional 1,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Kinross Gold by 18.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after buying an additional 2,180 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Kinross Gold by 9.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after buying an additional 2,200 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Trading Down 1.4 %

KGC stock opened at $9.76 on Friday. The firm has a fifty day moving average price of $9.94 and a 200 day moving average price of $9.07. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The firm has a market cap of $12.00 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 0.45 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. Kinross Gold’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 earnings per share. Sell-side analysts anticipate that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.23%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s payout ratio is 19.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KGC. Jefferies Financial Group increased their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Scotiabank raised their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $11.13.

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.