MUFG Securities EMEA plc Buys New Holdings in Kinross Gold Corporation $KGC

Key Points

• MUFG Securities EMEA plc opened a new position in Kinross Gold, buying 830,000 shares valued at about $23.4 million in the fourth quarter.
• Institutional interest in Kinross Gold remains strong, with hedge funds and asset managers holding 63.69% of the company’s stock; several major firms also increased their stakes recently.
• Kinross Gold beat quarterly EPS expectations, reporting $0.71 per share versus the $0.68 estimate, and its board declared a quarterly dividend of $0.04 per share.

MUFG Securities EMEA plc purchased a new stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 830,000 shares of the mining company's stock, valued at approximately $23,383,000. MUFG Securities EMEA plc owned about 0.07% of Kinross Gold as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in Kinross Gold by 7.8% during the 3rd 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. Vanguard Group Inc. boosted its stake in Kinross Gold by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company's stock valued at $1,433,345,000 after purchasing an additional 148,845 shares during the last quarter. Boston Partners boosted its stake in Kinross Gold by 1.6% during the 3rd quarter. Boston Partners now owns 45,120,345 shares of the mining company's stock valued at $1,133,463,000 after purchasing an additional 707,498 shares during the last quarter. Norges Bank acquired a new position in Kinross Gold during the 4th quarter valued at about $518,656,000. Finally, Man Group plc boosted its stake in Kinross Gold by 47.8% during the 2nd 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. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $30.23 on Friday. Kinross Gold Corporation has a twelve month low of $14.49 and a twelve month high of $39.11. The stock's 50 day moving average price is $30.63 and its 200-day moving average price is $30.81. The company has a market capitalization of $36.05 billion, a PE ratio of 12.81, a PEG ratio of 1.08 and a beta of 0.73. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company's revenue was up 60.8% compared to the same quarter last year. On average, equities analysts anticipate that Kinross Gold Corporation will post 2.92 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, May 21st. Kinross Gold's payout ratio is presently 6.78%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KGC. Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a research note on Wednesday, February 4th. Freedom Capital upgraded shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. UBS Group lowered their target price on shares of Kinross Gold from $43.00 to $37.00 and set a "buy" rating for the company in a report on Friday, March 27th. TD Securities lowered their target price 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. Finally, Royal Bank Of Canada upgraded shares of Kinross Gold from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $36.00 to $45.00 in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.81.

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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