BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $17.97 Million Position in Kinross Gold Corporation $KGC

Key Points

• British Columbia Investment Management Corp increased its stake in Kinross Gold Corporation by 19.7% during the first quarter, bringing its total ownership to approximately $17.97 million.
• Kinross Gold recently reported a $0.44 EPS for the quarter, exceeding analysts' expectations of $0.33, along with a notable 41.7% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.03, reflecting an annual yield of 0.6%, with a payout ratio of 9.68%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 19.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,426,396 shares of the mining company's stock after purchasing an additional 234,350 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.12% of Kinross Gold worth $17,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Banque Cantonale Vaudoise acquired a new position in shares of Kinross Gold in the first quarter valued at approximately $55,000. Farther Finance Advisors LLC increased its stake in shares of Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after buying an additional 3,659 shares during the period. Headlands Technologies LLC acquired a new position in shares of Kinross Gold in the first quarter valued at approximately $77,000. Bruce G. Allen Investments LLC increased its stake in shares of Kinross Gold by 68.6% in the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after buying an additional 2,561 shares during the period. Finally, SBI Securities Co. Ltd. increased its stake in shares of Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after buying an additional 1,787 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

Kinross Gold stock opened at $19.5840 on Friday. The stock's 50 day moving average is $16.63 and its 200 day moving average is $14.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The firm has a market cap of $23.80 billion, a P/E ratio of 15.79, a P/E/G ratio of 0.65 and a beta of 0.55. Kinross Gold Corporation has a one year low of $8.31 and a one year high of $19.81.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. The firm's quarterly revenue was up 41.7% on a year-over-year basis. As a group, research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.6%. Kinross Gold's payout ratio is 9.68%.

Analysts Set New Price Targets

KGC has been the subject of several recent research reports. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and upped their price objective for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. CIBC upped their price objective on Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Scotiabank upped their price objective on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 8th. Royal Bank Of Canada lifted their price objective on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Kinross Gold currently has a consensus rating of "Buy" and a consensus price target of $20.07.

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.

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