Kinross Gold Corporation (NYSE:KGC) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 35.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 159,678 shares of the mining company’s stock after purchasing an additional 41,481 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Kinross Gold were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in KGC. Achmea Investment Management B.V. grew its position in Kinross Gold by 18.8% during the first quarter. Achmea Investment Management B.V. now owns 1,078,800 shares of the mining company’s stock valued at $13,589,000 after acquiring an additional 170,966 shares during the period. Artemis Investment Management LLP grew its position in Kinross Gold by 365.8% during the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company’s stock valued at $86,718,000 after acquiring an additional 5,400,447 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Kinross Gold by 10.0% in the first quarter. Sequoia Financial Advisors LLC now owns 37,056 shares of the mining company’s stock worth $467,000 after buying an additional 3,373 shares during the period. Bessemer Group Inc. boosted its position in shares of Kinross Gold by 264.7% in the first quarter. Bessemer Group Inc. now owns 155,422 shares of the mining company’s stock worth $1,960,000 after buying an additional 112,800 shares during the period. Finally, S.A. Mason LLC boosted its position in shares of Kinross Gold by 6.0% in the first quarter. S.A. Mason LLC now owns 22,250 shares of the mining company’s stock worth $281,000 after buying an additional 1,250 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Trading Up 1.7%

Shares of NYSE KGC opened at $15.84 on Friday. The stock’s 50 day moving average price is $14.97 and its two-hundred day moving average price is $12.71. Kinross Gold Corporation has a 52-week low of $7.84 and a 52-week high of $16.04. The stock has a market capitalization of $19.43 billion, a P/E ratio of 16.16, a PEG ratio of 0.65 and a beta of 0.63. The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Kinross Gold’s revenue for the quarter was up 38.5% compared to the same quarter last year. On average, analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, May 29th. Kinross Gold’s payout ratio is 12.24%.

Analyst Upgrades and Downgrades

KGC has been the subject of several analyst reports. Jefferies Financial Group raised Kinross Gold from a “hold” rating to a “buy” rating and upped their target price for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. National Bankshares reissued an “outperform” rating on shares of Kinross Gold in a report on Tuesday, June 24th. Scotiabank increased their price target on Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a report on Thursday, May 8th. Finally, BMO Capital Markets started coverage on Kinross Gold in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $17.00.

Kinross Gold Company Profile

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.