Sumitomo Mitsui Trust Holdings Inc. Increases Stock Position in Kinross Gold Co. (NYSE:KGC)

Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,846,537 shares of the mining company’s stock after buying an additional 124,055 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.23% of Kinross Gold worth $17,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in shares of Kinross Gold during the fourth quarter valued at $26,000. CWM LLC increased its holdings in shares of Kinross Gold by 353.2% during the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after acquiring an additional 5,750 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Kinross Gold during the fourth quarter valued at $53,000. SCP Investment LP increased its holdings in shares of Kinross Gold by 59.3% during the third quarter. SCP Investment LP now owns 18,800 shares of the mining company’s stock valued at $86,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Pearl River Capital LLC increased its holdings in shares of Kinross Gold by 17.9% during the third quarter. Pearl River Capital LLC now owns 21,100 shares of the mining company’s stock valued at $96,000 after acquiring an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Down 4.5 %

KGC stock opened at $6.47 on Tuesday. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $6.82. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. The stock has a market cap of $7.94 billion, a P/E ratio of 19.01, a PEG ratio of 2.29 and a beta of 1.15. The business’s 50-day moving average price is $5.70 and its 200-day moving average price is $5.61.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm earned $0.09 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Kinross Gold Co. will post 0.36 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $0.03 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.86%. Kinross Gold’s dividend payout ratio is presently 35.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. CIBC lifted their price objective on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Jefferies Financial Group boosted their price target on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday. Finally, TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus target price of $6.44.

Kinross Gold 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.