Kinross Gold Corporation $KGC Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. trimmed its stake 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 13F filing with the Securities and Exchange Commission. The firm owned 2,010,944 shares of the mining company’s stock after selling 74,997 shares during the period. Kinross Gold comprises about 1.4% of Mufg Securities Canada LTD.’s holdings, making the stock its 22nd biggest position. Mufg Securities Canada LTD. owned about 0.17% of Kinross Gold worth $49,903,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of Kinross Gold by 192.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,647,057 shares of the mining company’s stock valued at $90,629,000 after buying an additional 2,398,621 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Kinross Gold by 203.0% in the 2nd quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock worth $2,388,000 after buying an additional 102,348 shares in the last quarter. U S Global Investors Inc. grew its stake in Kinross Gold by 60.5% in the 3rd quarter. U S Global Investors Inc. now owns 417,334 shares of the mining company’s stock valued at $10,371,000 after acquiring an additional 157,334 shares during the last quarter. Dynasty Wealth Management LLC increased its holdings in Kinross Gold by 185.4% during the 3rd quarter. Dynasty Wealth Management LLC now owns 226,215 shares of the mining company’s stock valued at $5,621,000 after acquiring an additional 146,955 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Kinross Gold during the third quarter worth about $1,253,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of recent research reports. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 22nd. Zacks Research cut Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Scotiabank raised their price target on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a research report on Sunday, December 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.81.

Kinross Gold Price Performance

KGC opened at $36.93 on Friday. Kinross Gold Corporation has a 1 year low of $10.32 and a 1 year high of $39.11. The company’s 50 day simple moving average is $33.00 and its 200 day simple moving average is $27.26. The stock has a market capitalization of $44.31 billion, a PE ratio of 18.84, a P/E/G ratio of 0.38 and a beta of 0.74. 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 (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. Kinross Gold’s revenue was up 42.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. As a group, sell-side analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be given a $0.04 dividend. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. 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%. Kinross Gold’s dividend payout ratio is 7.14%.

Kinross Gold 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.