BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $3.70 Million Stake in Kinross Gold Co. (NYSE:KGC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 130.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 395,305 shares of the mining company’s stock after buying an additional 223,641 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Kinross Gold were worth $3,703,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

KGC has been the topic of a number of research reports. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Scotiabank raised their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group upped their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $11.13.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $9.92 on Wednesday. Kinross Gold Co. has a 1-year low of $4.75 and a 1-year high of $10.82. The firm has a fifty day simple moving average of $9.93 and a 200-day simple moving average of $9.05. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. 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.

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

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.21%. Kinross Gold’s dividend payout ratio (DPR) is presently 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.