649,600 Shares in Kinross Gold Corporation $KGC Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp bought a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the fourth quarter, Holdings Channel reports. The firm bought 649,600 shares of the mining company’s stock, valued at approximately $18,297,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in KGC. Parallel Advisors LLC increased its stake 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. raised its position in shares of Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after buying an additional 393 shares in the last quarter. Armstrong Advisory Group Inc. raised its position in shares of Kinross Gold by 32.9% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock valued at $55,000 after buying an additional 483 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in shares of Kinross Gold by 2.1% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock valued at $629,000 after buying an additional 521 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after buying an additional 589 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on KGC shares. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. TD Securities decreased their target price on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Finally, UBS Group decreased 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 report on Friday, March 27th. One investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Trading Up 6.9%

Shares of KGC opened at $27.34 on Tuesday. The firm’s 50-day moving average price is $30.14 and its 200-day moving average price is $30.95. The firm has a market capitalization of $32.60 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.90 and a beta of 0.71. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. 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 announced its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 EPS. Sell-side analysts anticipate that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Dividend Announcement

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

Kinross Gold 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.