Mitsubishi UFJ Trust & Banking Corp Has $27.24 Million Stock Holdings in Kinross Gold Corporation $KGC

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 23.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,097,400 shares of the mining company’s stock after selling 328,700 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Kinross Gold were worth $27,237,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. increased its position in shares of Kinross Gold by 95.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after acquiring an additional 717 shares in the last quarter. Mather Group LLC. acquired a new position in Kinross Gold in the 3rd quarter worth $44,000. First Horizon Corp acquired a new position in Kinross Gold in the 3rd quarter worth $56,000. Transce3nd LLC increased its holdings in Kinross Gold by 128.2% during the 2nd quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock worth $46,000 after purchasing an additional 1,637 shares in the last quarter. Finally, Spire Wealth Management raised its stake in shares of Kinross Gold by 1,242.9% in the 3rd quarter. Spire Wealth Management now owns 4,700 shares of the mining company’s stock valued at $117,000 after purchasing an additional 4,350 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of KGC opened at $37.18 on Monday. The company’s 50-day moving average is $29.22 and its 200-day moving average is $24.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The firm has a market capitalization of $44.61 billion, a PE ratio of 26.00, a PEG ratio of 0.43 and a beta of 0.75. Kinross Gold Corporation has a fifty-two week low of $10.32 and a fifty-two week high of $37.60.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm earned $0.24 EPS. The business’s revenue was up 25.8% on a year-over-year basis. Equities analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, November 26th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio (DPR) is 9.79%.

Analysts Set New Price Targets

KGC has been the subject of several recent research reports. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Thursday, October 23rd. Raymond James Financial boosted their target price on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a research report on Sunday, December 7th. TD Securities lifted their price objective on shares of Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, UBS Group boosted their price objective on shares of Kinross Gold from $33.00 to $37.50 and gave the stock a “buy” rating in a research report on Friday, January 16th. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Kinross Gold has an average rating of “Buy” and an average price target of $30.56.

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.