Alberta Investment Management Corp Invests $19.49 Million in Kinross Gold Corporation $KGC

Alberta Investment Management Corp acquired a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 823,892 shares of the mining company's stock, valued at approximately $19,488,000. Alberta Investment Management Corp owned approximately 0.07% of Kinross Gold as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Kinross Gold by 35.1% during the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company's stock valued at $887,000 after buying an additional 18,287 shares during the period. Caxton Associates LLP purchased a new position in shares of Kinross Gold in the first quarter worth about $158,000. Sivia Capital Partners LLC purchased a new position in shares of Kinross Gold in the second quarter worth about $167,000. M&T Bank Corp lifted its stake in shares of Kinross Gold by 9.0% in the 2nd quarter. M&T Bank Corp now owns 16,153 shares of the mining company's stock valued at $252,000 after acquiring an additional 1,328 shares during the last quarter. Finally, AXA S.A. bought a new stake in shares of Kinross Gold in the 2nd quarter valued at about $2,483,000. Institutional investors own 63.69% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on KGC shares. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, July 31st. Wall Street Zen downgraded shares of Kinross Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. UBS Group lowered their price target on shares of Kinross Gold from $38.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Weiss Ratings lowered shares of Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Finally, Freedom Capital raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $38.43.

Kinross Gold Price Performance

KGC stock opened at $27.29 on Monday. Kinross Gold Corporation has a 1 year low of $18.65 and a 1 year high of $39.11. The company has a market cap of $32.37 billion, a P/E ratio of 10.34, a PEG ratio of 0.73 and a beta of 0.78. The firm has a 50-day moving average of $24.77 and a 200 day moving average of $29.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the previous year, the firm posted $0.44 EPS. The business's revenue was up 29.5% on a year-over-year basis. On average, sell-side analysts forecast that Kinross Gold Corporation will post 2.63 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a $0.04 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Kinross Gold's dividend payout ratio is 6.06%.

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.

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