Sumitomo Mitsui Trust Group Inc. Purchases 17,677 Shares of Kinross Gold Co. (NYSE:KGC)

Sumitomo Mitsui Trust Group Inc. lifted its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 44.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 57,727 shares of the mining company’s stock after buying an additional 17,677 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kinross Gold were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of KGC. Atlas Capital Advisors LLC bought a new stake in shares of Kinross Gold in the 2nd quarter worth about $40,000. Bright Futures Wealth Management LLC. bought a new stake in shares of Kinross Gold in the 1st quarter valued at $70,000. Fifth Third Bancorp raised its position in shares of Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the period. Blue Trust Inc. raised its holdings in Kinross Gold by 113.1% during the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after buying an additional 6,011 shares during the period. Finally, Corundum Trust Company INC bought a new stake in Kinross Gold in the 3rd quarter valued at $94,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Up 2.6 %

Shares of NYSE:KGC opened at $10.00 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The business’s 50 day simple moving average is $9.84 and its two-hundred day simple moving average is $8.85. The firm has a market cap of $12.29 billion, a P/E ratio of 16.39, a PEG ratio of 0.45 and a beta of 1.22. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Kinross Gold’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. As a group, research analysts forecast that Kinross Gold Co. will post 0.69 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s payout ratio is currently 19.67%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Finally, Scotiabank increased their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.00.

About Kinross Gold

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.