Sumitomo Mitsui Trust Group Inc. Purchases 60,470 Shares of Kinross Gold Co. (NYSE:KGC)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 104.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,197 shares of the mining company’s stock after acquiring an additional 60,470 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Kinross Gold were worth $1,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of KGC. Creative Planning increased its holdings in shares of Kinross Gold by 12.0% during the third quarter. Creative Planning now owns 71,945 shares of the mining company’s stock valued at $673,000 after acquiring an additional 7,689 shares in the last quarter. One Wealth Advisors LLC bought a new stake in shares of Kinross Gold during the third quarter valued at approximately $127,000. Blue Trust Inc. increased its holdings in shares of Kinross Gold by 88.5% during the third quarter. Blue Trust Inc. now owns 21,351 shares of the mining company’s stock valued at $200,000 after acquiring an additional 10,024 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Kinross Gold by 25.7% during the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock valued at $3,186,000 after acquiring an additional 69,520 shares in the last quarter. Finally, OLD National Bancorp IN grew its holdings in Kinross Gold by 43.7% during the third quarter. OLD National Bancorp IN now owns 16,433 shares of the mining company’s stock worth $154,000 after buying an additional 4,999 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Down 1.3 %

KGC stock opened at $11.27 on Friday. The stock’s fifty day simple moving average is $10.36 and its two-hundred day simple moving average is $9.81. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 1-year low of $4.75 and a 1-year high of $12.28. The stock has a market cap of $13.85 billion, a P/E ratio of 18.47, a P/E/G ratio of 0.67 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Analysts expect that Kinross Gold Co. will post 0.73 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $0.03 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 1.07%. Kinross Gold’s dividend payout ratio is currently 15.58%.

Analyst Ratings Changes

KGC has been the subject of several recent research reports. CIBC upped their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $11.63.

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.