Mufg Securities Canada LTD. Boosts Holdings in Kinross Gold Co. (NYSE:KGC)

Mufg Securities Canada LTD. lifted its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 72.1% in the fourth quarter, Holdings Channel reports. The firm owned 1,876,875 shares of the mining company’s stock after buying an additional 786,088 shares during the period. Mufg Securities Canada LTD.’s holdings in Kinross Gold were worth $17,419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Kinross Gold by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock valued at $439,881,000 after purchasing an additional 763,248 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Kinross Gold by 10.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock worth $136,028,000 after purchasing an additional 1,398,225 shares during the period. First Eagle Investment Management LLC boosted its holdings in Kinross Gold by 80.9% in the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after purchasing an additional 5,639,383 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Kinross Gold by 0.7% during the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock worth $90,022,000 after buying an additional 70,376 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Up 0.8 %

Shares of Kinross Gold stock opened at $12.30 on Wednesday. Kinross Gold Co. has a 52-week low of $5.67 and a 52-week high of $12.59. The company has a 50 day moving average of $11.29 and a 200 day moving average of $10.32. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $15.13 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.68 and a beta of 1.29.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, research analysts forecast that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is currently 15.58%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KGC shares. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. CIBC boosted their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $11.63.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.