Kinross Gold Corp (NYSE:KGC) shares are trading higher by 2.9% to $11.03 during Monday’s session after the company announced its agreement to acquire 15.41 million common shares of Relevant Gold Corp in a private placement at 30 cents per share, totaling $4.62 million.
What To Know: Following the transaction, Kinross will hold 19.9% of Relevant Gold’s outstanding shares, up from its previous 6.8% stake. The company also owns 2.55 million share purchase warrants, which, if exercised, would increase its ownership to 21.8% on a partially diluted basis.
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However, Kinross has committed not to exercise the warrants if doing so would push its stake above 20% without shareholder approval.
What Else: Per a press release, the investment is part of Kinross’s broader strategic interest in Relevant Gold, though it has no immediate plans for further transactions.
Kinross says future actions will depend on market and business conditions. The deal, pending customary conditions, is expected to close in March 2025.
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How To Buy KGC Stock
By now you’re likely curious about how to participate in the market for Kinross Gold – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of Kinross Gold, which is trading at $11.0 as of publishing time, $100 would buy you 9.09 shares of stock.
If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
