Sumitomo Mitsui Trust Group Inc. Has $2.01 Million Stock Position in Kinross Gold Corporation (NYSE:KGC)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 35.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KGC. Vanguard Group Inc. grew its holdings in shares of Kinross Gold by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company's stock worth $439,881,000 after buying an additional 763,248 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock worth $304,633,000 after buying an additional 3,224,455 shares in the last quarter. Norges Bank bought a new position in shares of Kinross Gold during the fourth quarter worth about $280,697,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Kinross Gold by 10.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company's stock worth $136,028,000 after buying an additional 1,398,225 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Kinross Gold by 21.2% during the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company's stock worth $129,435,000 after buying an additional 2,438,445 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

KGC has been the subject of a number of analyst reports. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. CIBC restated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, May 13th. Scotiabank raised their price target on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 8th. Royal Bank Of Canada raised their price target on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price target for the company in a research note on Monday, June 30th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $17.00.

Kinross Gold Price Performance

KGC traded up $0.27 on Friday, reaching $15.84. The stock had a trading volume of 12,114,985 shares, compared to its average volume of 18,780,675. Kinross Gold Corporation has a fifty-two week low of $7.84 and a fifty-two week high of $16.04. The firm has a 50-day moving average of $14.97 and a 200-day moving average of $12.71. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $19.43 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.65 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results 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 net margin of 21.74% and a return on equity of 15.63%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The company's revenue for the quarter was up 38.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

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

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.