Sumitomo Mitsui Trust Group Inc. Has $2.21 Million Stake in Kinross Gold Corporation $KGC

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 11.6% in the second quarter, Holdings Channel.com reports. The firm owned 141,090 shares of the mining company’s stock after selling 18,588 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kinross Gold were worth $2,205,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in Kinross Gold during the 1st quarter valued at about $55,000. Headlands Technologies LLC bought a new position in shares of Kinross Gold during the 1st quarter worth approximately $77,000. SBI Securities Co. Ltd. lifted its position in shares of Kinross Gold by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock worth $80,000 after buying an additional 1,787 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Kinross Gold by 19.1% during the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after buying an additional 835 shares in the last quarter. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Kinross Gold during the 1st quarter worth approximately $84,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 3.0%

Shares of KGC stock opened at $23.81 on Friday. The company’s fifty day simple moving average is $23.40 and its two-hundred day simple moving average is $18.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $27.84. The stock has a market capitalization of $28.80 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 0.42 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. As a group, analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on KGC. Raymond James Financial lifted their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “buy (a-)” rating on shares of Kinross Gold in a research report on Wednesday, October 8th. CIBC lifted their target price on shares of Kinross Gold from $22.00 to $36.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Zacks Research raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, UBS Group lifted their target price on shares of Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and an average price target of $27.56.

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.