Kinross Gold Corporation $KGC Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,247 shares of the mining company’s stock after selling 19,643 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kinross Gold were worth $3,668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp raised its position in Kinross Gold by 7.8% during the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the last quarter. Man Group plc raised its position in Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after acquiring an additional 5,411,491 shares during the last quarter. Bank of America Corp DE raised its position in Kinross Gold by 81.2% during the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock worth $126,191,000 after acquiring an additional 3,617,320 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Kinross Gold during the third quarter worth about $80,299,000. Finally, AustralianSuper Pty Ltd raised its position in Kinross Gold by 50.6% during the third quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock worth $228,227,000 after acquiring an additional 3,089,959 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analysts Set New Price Targets

KGC has been the subject of a number of research reports. UBS Group cut their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Zacks Research cut shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research report on Wednesday, February 4th. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Finally, TD Securities cut their target price on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $34.94 on Friday. The company has a market cap of $41.72 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. Kinross Gold Corporation has a 12 month low of $13.28 and a 12 month high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. The company has a 50-day simple moving average of $32.49 and a 200-day simple moving average of $29.66.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, equities analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date was Wednesday, March 11th. Kinross Gold’s payout ratio is presently 8.16%.

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.