Alberta Investment Management Corp Makes New $18.30 Million Investment in Kinross Gold Corporation $KGC

Alberta Investment Management Corp purchased a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 649,600 shares of the mining company’s stock, valued at approximately $18,297,000. Alberta Investment Management Corp owned 0.05% of Kinross Gold as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of Kinross Gold by 5.6% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 51,100 shares of the mining company’s stock worth $1,442,000 after purchasing an additional 2,700 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Kinross Gold by 4.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 108,695 shares of the mining company’s stock worth $3,061,000 after purchasing an additional 5,084 shares during the last quarter. Venture Visionary Partners LLC bought a new stake in shares of Kinross Gold in the fourth quarter worth $225,000. Mariner LLC grew its stake in shares of Kinross Gold by 7.0% in the fourth quarter. Mariner LLC now owns 283,677 shares of the mining company’s stock worth $7,999,000 after purchasing an additional 18,497 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Kinross Gold in the fourth quarter worth $391,000. Institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the topic of several analyst reports. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. UBS Group reduced their price objective on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. TD Securities reduced their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

Kinross Gold Price Performance

KGC stock opened at $27.34 on Tuesday. The stock has a market capitalization of $32.60 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.90 and a beta of 0.71. The company’s 50-day moving average is $30.14 and its 200-day moving average is $30.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. Kinross Gold Corporation has a 1 year low of $14.71 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. Equities research analysts expect that Kinross Gold Corporation will post 2.91 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s dividend payout ratio is 6.78%.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.