Sumitomo Mitsui Trust Group Inc. Has $3.22 Million Stake in Kinross Gold Corporation $KGC

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 18.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,639 shares of the mining company’s stock after selling 24,608 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kinross Gold were worth $3,224,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Kinross Gold by 0.3% in the fourth 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 period. Boston Partners increased its holdings in shares of Kinross Gold by 1.6% during the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after purchasing an additional 707,498 shares during the period. FIL Ltd increased its stake in Kinross Gold by 4.8% during the 4th quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock worth $820,969,000 after acquiring an additional 1,326,833 shares during the period. Norges Bank bought a new position in shares of Kinross Gold in the fourth quarter worth $518,656,000. Finally, Man Group plc raised its position in shares of Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after buying an additional 5,411,491 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 1.1%

NYSE KGC opened at $23.65 on Thursday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $26.80 and a 200 day simple moving average of $30.44. Kinross Gold Corporation has a 12 month low of $15.10 and a 12 month high of $39.11. The firm has a market capitalization of $28.06 billion, a P/E ratio of 10.02, a PEG ratio of 0.63 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, analysts predict that Kinross Gold Corporation will post 2.7 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s payout ratio is presently 6.78%.

Analysts Set New Price Targets

A number of research firms have recently commented on KGC. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Zacks Research downgraded shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday. UBS Group lowered their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada lowered their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Finally, Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.31.

About Kinross Gold

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.