Kinross Gold Co. (NYSE:KGC) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 130.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 395,305 shares of the mining company’s stock after purchasing an additional 223,641 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Kinross Gold were worth $3,703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KGC. Artemis Investment Management LLP boosted its position in shares of Kinross Gold by 321.5% during the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after buying an additional 5,107,120 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Kinross Gold by 634.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock worth $36,971,000 after purchasing an additional 3,405,478 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Kinross Gold by 31.2% in the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after purchasing an additional 2,267,999 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Kinross Gold by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock valued at $72,867,000 after purchasing an additional 1,777,076 shares in the last quarter. Finally, Andra AP fonden acquired a new stake in Kinross Gold in the second quarter worth about $13,181,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group upped their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Scotiabank lifted their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and an average price target of $11.13.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $9.92 on Wednesday. The stock’s fifty day simple moving average is $9.93 and its 200 day simple moving average is $9.05. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.43 and a beta of 1.22. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. As a group, sell-side analysts forecast that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio is 19.67%.

Kinross Gold Profile

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.