Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in Kinross Gold Corporation $KGC

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in Kinross by 91.9% in Q4, selling 1,008,100 shares and leaving 89,300 shares worth $2.485 million.
• Several analysts raised ratings and targets—RBC upgraded to "outperform" with a $45 target, Scotiabank also boosted to $45 and CIBC set $54—resulting in a MarketBeat average target of $38.81 and a "Moderate Buy" consensus.
• Kinross beat quarterly EPS estimates with $0.71 vs. $0.68 and revenue rose 60.8% YoY to $2.37 billion; the stock traded near $28.88 and the company announced a $0.04 quarterly dividend (0.6% yield).

Mitsubishi UFJ Trust & Banking Corp lessened its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 91.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,300 shares of the mining company's stock after selling 1,008,100 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Kinross Gold were worth $2,485,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Armstrong Advisory Group Inc. raised its holdings in shares of Kinross Gold by 32.9% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company's stock valued at $55,000 after buying an additional 483 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its holdings in shares of Kinross Gold by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company's stock valued at $629,000 after buying an additional 521 shares during the period. Ballentine Partners LLC raised its holdings in shares of Kinross Gold by 1.8% in the 3rd quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company's stock valued at $799,000 after buying an additional 565 shares during the period. Cadence Wealth Management LLC raised its holdings in shares of Kinross Gold by 1.3% in the 3rd quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company's stock valued at $1,149,000 after buying an additional 581 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Kinross Gold by 7.0% in the 3rd quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company's stock valued at $224,000 after buying an additional 587 shares during the period. 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. Royal Bank Of Canada raised Kinross Gold from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. TD Securities lowered their target price on Kinross Gold from $43.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Zacks Research cut Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 23rd. Scotiabank boosted their target price on Kinross Gold from $32.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $38.81.

Kinross Gold Trading Down 2.3%

KGC opened at $28.88 on Tuesday. Kinross Gold Corporation has a 12 month low of $13.28 and a 12 month high of $39.11. The stock has a market capitalization of $34.48 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The business has a fifty day moving average price of $32.10 and a 200 day moving average price of $30.12.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data 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 business had revenue of $2.37 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. Sell-side analysts expect that Kinross Gold Corporation will post 2.78 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold's dividend payout ratio is currently 6.78%.

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.

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