Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 19.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,869,816 shares of the mining company’s stock after selling 1,627,145 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.55% of Kinross Gold worth $49,445,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Kinross Gold by 45.2% during the first quarter. Bank of New York Mellon Corp now owns 6,036,448 shares of the mining company’s stock valued at $24,026,000 after acquiring an additional 1,879,516 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Kinross Gold by 45.6% during the first quarter. APG Asset Management N.V. now owns 5,981,693 shares of the mining company’s stock valued at $23,774,000 after acquiring an additional 1,874,774 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Kinross Gold by 34.8% during the first quarter. JPMorgan Chase & Co. now owns 4,770,131 shares of the mining company’s stock valued at $18,985,000 after acquiring an additional 1,230,982 shares during the period. Invesco Ltd. lifted its holdings in shares of Kinross Gold by 20.9% during the first quarter. Invesco Ltd. now owns 5,235,696 shares of the mining company’s stock valued at $20,837,000 after acquiring an additional 903,548 shares during the period. Finally, Norges Bank bought a new position in shares of Kinross Gold during the fourth quarter valued at $79,059,000. 54.96% of the stock is owned by institutional investors.
KGC has been the subject of a number of analyst reports. Scotiabank lifted their price objective on Kinross Gold from $8.00 to $8.50 in a report on Monday, July 20th. TD Securities lifted their price objective on Kinross Gold from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday. Barclays lifted their price target on Kinross Gold from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. TheStreet raised Kinross Gold from a “c+” rating to a “b-” rating in a report on Wednesday, April 22nd. Finally, Raymond James lifted their price target on Kinross Gold from $9.50 to $10.50 and gave the company an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Kinross Gold has an average rating of “Hold” and an average target price of $8.14.
Shares of NYSE:KGC opened at $9.37 on Friday. The stock has a market capitalization of $11.79 billion, a P/E ratio of 13.20 and a beta of 1.00. Kinross Gold Co. has a 1-year low of $2.72 and a 1-year high of $9.38. The company has a current ratio of 3.58, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $7.35 and a two-hundred day moving average price of $6.03.
Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Kinross Gold had a return on equity of 11.27% and a net margin of 23.96%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 EPS. As a group, equities analysts predict that Kinross Gold Co. will post 0.63 EPS for the current year.
Kinross Gold Profile
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.
Recommended Story: What is a recession?
Want to see what other hedge funds are holding KGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinross Gold Co. (NYSE:KGC) (TSE:K).
Receive News & Ratings for Kinross Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold and related companies with MarketBeat.com's FREE daily email newsletter.