Mackenzie Financial Corp Has $129.44 Million Stock Position in Kinross Gold Co. (NYSE:KGC)

Mackenzie Financial Corp lifted its stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 21.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,951,818 shares of the mining company's stock after buying an additional 2,438,445 shares during the period. Mackenzie Financial Corp owned approximately 1.14% of Kinross Gold worth $129,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp raised its stake in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock valued at $1,078,330,000 after purchasing an additional 44,610,091 shares in the last quarter. Vanguard Group Inc. raised its stake in Kinross Gold by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company's stock valued at $439,881,000 after purchasing an additional 763,248 shares in the last quarter. Renaissance Technologies LLC raised its stake in Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after purchasing an additional 3,224,455 shares in the last quarter. Norges Bank acquired a new position in Kinross Gold in the fourth quarter valued at about $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Kinross Gold by 10.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company's stock valued at $136,028,000 after purchasing an additional 1,398,225 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KGC has been the subject of a number of analyst reports. Scotiabank boosted their price target 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. National Bank Financial raised Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research note on Wednesday, April 23rd. Raymond James boosted their target price on Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a research note on Friday, April 4th. Finally, CIBC reissued an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $14.50.

Kinross Gold Trading Up 2.0%

KGC stock traded up $0.29 during trading on Wednesday, hitting $14.80. The company had a trading volume of 20,781,006 shares, compared to its average volume of 18,317,048. Kinross Gold Co. has a one year low of $7.20 and a one year high of $15.96. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average of $13.81 and a 200-day moving average of $11.64. The stock has a market cap of $18.21 billion, a PE ratio of 19.22, a PEG ratio of 0.68 and a beta of 0.64.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The company's revenue was up 38.5% compared to the same quarter last year. Research analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be issued a $0.03 dividend. The ex-dividend date is Thursday, May 29th. This represents a $0.12 annualized dividend and a yield of 0.81%. Kinross Gold's payout ratio is currently 12.24%.

Kinross Gold Company 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.