MUFG Securities EMEA plc Acquires New Stake in Kinross Gold Corporation $KGC

MUFG Securities EMEA plc acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 830,000 shares of the mining company’s stock, valued at approximately $23,383,000.

Several other institutional investors have also bought and sold shares of KGC. Norges Bank purchased a new position in Kinross Gold in the fourth quarter valued at approximately $518,656,000. Van ECK Associates Corp lifted its stake in Kinross Gold by 7.8% in the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock valued at $2,682,791,000 after purchasing an additional 7,825,336 shares during the last quarter. Man Group plc lifted its stake in Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after purchasing an additional 5,411,491 shares during the last quarter. Bank of America Corp DE lifted its stake in Kinross Gold by 81.2% in the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after purchasing an additional 3,617,320 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Kinross Gold in the third quarter valued at approximately $80,299,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on KGC. TD Securities dropped their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Weiss Ratings downgraded Kinross Gold from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 20th. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Finally, Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Trading Up 3.2%

NYSE:KGC opened at $30.23 on Friday. The company has a market cap of $36.05 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.08 and a beta of 0.73. The stock’s fifty day moving average price is $30.63 and its two-hundred day moving average price is $30.81. Kinross Gold Corporation has a 1 year low of $14.49 and a 1 year high of $39.11. 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 (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 earnings per share. As a group, analysts expect that Kinross Gold Corporation will post 2.92 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio is currently 6.78%.

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.