Alberta Investment Management Corp Has $18.30 Million Holdings in Kinross Gold Corporation $KGC

Alberta Investment Management Corp cut its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 9.6% in the fourth quarter, HoldingsChannel reports. The fund owned 649,600 shares of the mining company’s stock after selling 69,000 shares during the period. Alberta Investment Management Corp’s holdings in Kinross Gold were worth $18,297,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KGC. Parallel Advisors LLC boosted its position in Kinross Gold by 3.2% in the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock valued at $262,000 after buying an additional 292 shares during the last quarter. Turning Point Benefit Group Inc. lifted its stake in shares of Kinross Gold by 6.6% during the fourth quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after acquiring an additional 393 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in Kinross Gold by 2.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock valued at $636,000 after acquiring an additional 473 shares during the last quarter. Armstrong Advisory Group Inc. boosted its holdings in Kinross Gold by 32.9% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock valued at $55,000 after acquiring an additional 483 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after purchasing an additional 521 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. UBS Group cut their price target on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. TD Securities reduced their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Trading Down 2.3%

NYSE KGC opened at $26.66 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The stock’s 50-day moving average is $29.89 and its 200-day moving average is $30.94. Kinross Gold Corporation has a one year low of $14.71 and a one year high of $39.11. The firm has a market cap of $31.80 billion, a P/E ratio of 11.30, a P/E/G ratio of 0.96 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results 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 business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.Kinross Gold’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. Sell-side analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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

About Kinross Gold

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.