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Bank Julius Baer & Co. Ltd Zurich Trims Stake in Kinross Gold Co. (NYSE:KGC)

Bank Julius Baer & Co. Ltd Zurich reduced its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 38.8% in the 3rd quarter, according to its most recent…

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This article was originally published by ETF Daily News

Bank Julius Baer & Co. Ltd Zurich reduced its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 38.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 46,064 shares of the mining company’s stock after selling 29,240 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Kinross Gold were worth $455,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. InTrack Investment Management Inc purchased a new stake in Kinross Gold during the 3rd quarter valued at approximately $60,000. Allianz Asset Management GmbH raised its stake in Kinross Gold by 146.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 3,411,403 shares of the mining company’s stock valued at $21,654,000 after acquiring an additional 2,025,685 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Kinross Gold by 7.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 28,430 shares of the mining company’s stock valued at $180,000 after acquiring an additional 1,876 shares during the last quarter. HighTower Advisors LLC raised its stake in Kinross Gold by 22.4% during the 2nd quarter. HighTower Advisors LLC now owns 15,918 shares of the mining company’s stock valued at $101,000 after acquiring an additional 2,914 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Kinross Gold during the 2nd quarter valued at approximately $67,000. 45.01% of the stock is owned by institutional investors and hedge funds.

KGC has been the subject of several analyst reports. Royal Bank of Canada reduced their price objective on Kinross Gold from $7.00 to $6.50 and set an “outperform” rating for the company in a research note on Monday, December 13th. Raymond James dropped their target price on Kinross Gold from $8.50 to $8.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 18th. National Bank Financial boosted their target price on Kinross Gold from C$12.50 to C$13.00 in a research report on Friday, January 7th. Zacks Investment Research upgraded Kinross Gold from a “sell” rating to a “hold” rating and set a $7.25 target price on the stock in a research report on Monday, November 15th. Finally, BMO Capital Markets began coverage on Kinross Gold in a research report on Friday. They set a “buy” rating and a $11.50 target price on the stock. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $9.96.

KGC opened at $5.62 on Tuesday. The stock has a market cap of $6.99 billion, a P/E ratio of 7.11 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.54 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $5.78 and its 200 day simple moving average is $5.93. Kinross Gold Co. has a 1-year low of $4.90 and a 1-year high of $8.34.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, November 10th. The mining company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $862.50 million for the quarter, compared to analysts’ expectations of $889.56 million. Kinross Gold had a return on equity of 11.44% and a net margin of 24.90%. During the same quarter in the prior year, the firm posted $0.25 EPS. Research analysts expect that Kinross Gold Co. will post 0.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Tuesday, November 30th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.19%.

About Kinross Gold

Kinross Gold Corp. operates as an exploration company. It engages in the production, acquisition, exploration and development of gold bearing properties in Canada, United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana and Mauritania. The products are gold and silver produced in the form of dore.

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The post Bank Julius Baer & Co. Ltd Zurich Trims Stake in Kinross Gold Co. (NYSE:KGC) appeared first on ETF Daily News.


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