Sumitomo Mitsui Trust Group Inc. Sells 24,608 Shares of Kinross Gold Corporation $KGC

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 18.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 105,639 shares of the mining company’s stock after selling 24,608 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Kinross Gold were worth $3,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in shares of Kinross Gold by 3.2% in the fourth quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock worth $262,000 after buying an additional 292 shares in the last quarter. Turning Point Benefit Group Inc. raised its position in shares of Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after buying an additional 393 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Kinross Gold by 2.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock worth $636,000 after purchasing an additional 473 shares during the last quarter. Armstrong Advisory Group Inc. lifted its position in Kinross Gold by 32.9% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock worth $55,000 after buying an additional 483 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of Kinross Gold by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after acquiring an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 1.1%

Shares of NYSE:KGC opened at $23.65 on Thursday. The stock’s 50-day simple moving average is $26.80 and its two-hundred day simple moving average is $30.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The stock has a market capitalization of $28.06 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.63 and a beta of 0.78. Kinross Gold Corporation has a 52-week low of $15.10 and a 52-week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s revenue was up 60.8% on a year-over-year basis. Analysts expect that Kinross Gold Corporation will post 2.7 EPS for the current year.

Kinross Gold Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Scotiabank dropped their target price on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Tuesday. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Finally, Royal Bank Of Canada cut their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.31.

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.