Mackenzie Financial Corp Grows Holdings in Kinross Gold Co. (NYSE:KGC)

Mackenzie Financial Corp increased its position in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 21.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 1.14% of Kinross Gold worth $129,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of KGC. Park Avenue Securities LLC bought a new position in Kinross Gold during the fourth quarter worth $337,000. Atomi Financial Group Inc. raised its stake in Kinross Gold by 4.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company's stock worth $219,000 after buying an additional 1,106 shares during the last quarter. SG Americas Securities LLC raised its stake in Kinross Gold by 26.1% during the fourth quarter. SG Americas Securities LLC now owns 182,991 shares of the mining company's stock worth $1,696,000 after buying an additional 37,831 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Kinross Gold by 127.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 78,151 shares of the mining company's stock worth $724,000 after buying an additional 43,814 shares during the last quarter. Finally, Avior Wealth Management LLC grew its holdings in Kinross Gold by 246.3% in the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company's stock worth $67,000 after purchasing an additional 5,140 shares during the period. Institutional investors own 63.69% of the company's stock.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of research reports. Scotiabank raised their price target on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a report on Wednesday, April 23rd. Raymond James raised their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a report on Friday, April 4th. CIBC restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, May 13th. Finally, Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $14.50.

Kinross Gold Stock Down 0.3%

Shares of NYSE KGC traded down $0.05 during mid-day trading on Friday, reaching $14.61. 10,583,878 shares of the company's stock traded hands, compared to its average volume of 18,331,628. The stock has a market cap of $17.97 billion, a P/E ratio of 18.95, a PEG ratio of 0.68 and a beta of 0.64. The business has a 50-day simple moving average of $13.91 and a 200 day simple moving average of $11.70. Kinross Gold Co. has a 1-year low of $7.20 and a 1-year high of $15.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

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

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, May 29th. Kinross Gold's dividend 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.