Mufg Securities Canada LTD. Decreases Stake in Kinross Gold Corporation $KGC

Mufg Securities Canada LTD. lessened its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 3.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,010,944 shares of the mining company’s stock after selling 74,997 shares during the quarter. Kinross Gold accounts for about 1.4% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 22nd largest holding. Mufg Securities Canada LTD.’s holdings in Kinross Gold were worth $49,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Caitlin John LLC acquired a new stake in shares of Kinross Gold in the third quarter worth $26,000. GPS Wealth Strategies Group LLC purchased a new stake in Kinross Gold during the 3rd quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Kinross Gold in the 3rd quarter valued at $31,000. Armstrong Advisory Group Inc. raised its position in Kinross Gold by 95.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after purchasing an additional 717 shares during the period. Finally, Hollencrest Capital Management purchased a new position in Kinross Gold in the third quarter valued at about $40,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Price Performance

KGC opened at $36.93 on Friday. The company has a market capitalization of $44.31 billion, a P/E ratio of 18.84, a PEG ratio of 0.38 and a beta of 0.74. The company has a 50-day moving average of $33.00 and a 200-day moving average of $27.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. Kinross Gold Corporation has a 1-year low of $10.32 and a 1-year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Kinross Gold’s revenue for the quarter was up 42.9% compared to the same quarter last year. Equities analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio is currently 7.14%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KGC. Desjardins started coverage on Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Scotiabank upped their price target on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. UBS Group set a $43.00 target price on shares of Kinross Gold in a research report on Friday, January 30th. Finally, Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.81.

Kinross Gold Company 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.