Facebook INC (KGC) Shareholder United Services Automobile Association Has Lowered Holding by $484.88 Million

September 30, 2018 - By Carolyn Hewitt

Kinross Gold Corporation (NYSE:KGC) Logo

United Services Automobile Association decreased its stake in Facebook Inc (KGC) by 44.58% based on its latest 2018Q2 regulatory filing with the SEC. United Services Automobile Association sold 2.50M shares as the company’s stock declined 24.19% while stock markets rallied. The institutional investor held 3.11 million shares of the precious metals company at the end of 2018Q2, valued at $603.80 million, down from 5.61M at the end of the previous reported quarter. United Services Automobile Association who had been investing in Facebook Inc for a number of months, seems to be less bullish one the $3.35 billion market cap company. The stock decreased 1.10% or $0.03 during the last trading session, reaching $2.7. About 15.25M shares traded or 87.39% up from the average. Kinross Gold Corporation (NYSE:KGC) has declined 40.25% since September 30, 2017 and is downtrending. It has underperformed by 55.87% the S&P500.

United Services Automobile Association, which manages about $37.64 billion US Long portfolio, upped its stake in Mondelez International Inc (NYSE:ARE) by 773,718 shares to 805,545 shares, valued at $33.03M in 2018Q2, according to the filing. It also increased its holding in Teva Pharmaceutical Industries Ltd (NYSE:NOW) by 461,498 shares in the quarter, for a total of 731,198 shares, and has risen its stake in Williams Cos Inc/The (NYSE:CAG).

Analysts await Kinross Gold Corporation (NYSE:KGC) to report earnings on November, 14. They expect $0.02 earnings per share, down 71.43 % or $0.05 from last year’s $0.07 per share. KGC’s profit will be $24.81M for 33.75 P/E if the $0.02 EPS becomes a reality. After $0.03 actual earnings per share reported by Kinross Gold Corporation for the previous quarter, Wall Street now forecasts -33.33 % negative EPS growth.

Another recent and important Kinross Gold Corporation (NYSE:KGC) news was published by Seekingalpha.com which published an article titled: “Kinross Gold: Looking At Rebound Potential” on September 12, 2018.

Kinross Gold Corporation (NYSE:KGC) Ratings Coverage

Among 6 analysts covering Kinross Gold (NYSE:KGC), 0 have Buy rating, 0 Sell and 6 Hold. Therefore 0 are positive. Kinross Gold had 7 analyst reports since April 3, 2018 according to SRatingsIntel. The stock of Kinross Gold Corporation (NYSE:KGC) has “Hold” rating given on Monday, April 9 by BMO Capital Markets. Citigroup maintained the shares of KGC in report on Wednesday, August 29 with “Neutral” rating. The rating was maintained by JP Morgan on Monday, September 17 with “Neutral”. The rating was downgraded by RBC Capital Markets to “Sector Perform” on Monday, August 20. As per Tuesday, April 3, the company rating was maintained by RBC Capital Markets. Deutsche Bank maintained the shares of KGC in report on Wednesday, April 11 with “Hold” rating. On Thursday, September 6 the stock rating was maintained by Credit Suisse with “Neutral”.

Kinross Gold Corporation (NYSE:KGC) Ratings Chart

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