Mufg Securities Canada LTD. Sells 172,816 Shares of Kinross Gold Corporation $KGC

Mufg Securities Canada LTD. cut its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,838,128 shares of the mining company’s stock after selling 172,816 shares during the period. Kinross Gold makes up 1.4% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 23rd biggest holding. Mufg Securities Canada LTD.’s holdings in Kinross Gold were worth $51,785,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KGC. Caitlin John LLC bought a new stake in Kinross Gold in the third quarter worth $26,000. V Square Quantitative Management LLC bought a new stake in Kinross Gold in the fourth quarter worth $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold in the fourth quarter worth $26,000. Virtus Advisers LLC bought a new stake in Kinross Gold in the third quarter worth $28,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Down 0.1%

KGC stock opened at $25.56 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. Kinross Gold Corporation has a 52-week low of $14.71 and a 52-week high of $39.11. The company has a 50-day moving average of $30.23 and a two-hundred day moving average of $30.94. The stock has a market capitalization of $30.48 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 0.90 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 6.78%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KGC. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. TD Securities decreased their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Finally, Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.81.

About Kinross Gold

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.