Kinross Gold Corporation (NYSE:KGC) Stock Holdings Lessened by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in Kinross Gold by 4.1%, now owning approximately 1.09% or 13.38 million shares of the company worth about $168.5 million.
• Several institutional investors have increased their positions in Kinross Gold, with notable increases from Farther Finance Advisors LLC (up 188.6%) and Bruce G. Allen Investments LLC (up 68.6%).
• Analysts are optimistic about Kinross Gold's future, with a consensus rating of "Buy" and a target price of $18.00, as indicated by multiple research upgrades in recent months.

Mackenzie Financial Corp cut its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 4.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,377,661 shares of the mining company's stock after selling 574,157 shares during the period. Mackenzie Financial Corp owned about 1.09% of Kinross Gold worth $168,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake in shares of Kinross Gold by 188.6% during the 1st 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. Bruce G. Allen Investments LLC raised its holdings in shares of Kinross Gold by 68.6% during the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after acquiring an additional 2,561 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after acquiring an additional 1,787 shares in the last quarter. Helium Advisors LLC acquired a new stake in Kinross Gold during the fourth quarter valued at $97,000. Finally, Blue Trust Inc. boosted its position in Kinross Gold by 37.0% during the first quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock valued at $98,000 after purchasing an additional 2,110 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on KGC shares. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and raised their price target for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. CIBC increased their price objective on Kinross Gold from $16.00 to $21.00 and gave the stock an "outperformer" rating in a report on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Scotiabank boosted their target price on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 8th. Finally, BMO Capital Markets assumed coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Kinross Gold currently has a consensus rating of "Buy" and an average target price of $18.00.

Kinross Gold Trading Up 1.8%

NYSE:KGC opened at $16.13 on Monday. The company's 50 day moving average is $15.35 and its 200-day moving average is $13.40. The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17. Kinross Gold Corporation has a 12 month low of $7.84 and a 12 month high of $16.52. The firm has a market cap of $19.78 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.56 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results 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 business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. Kinross Gold's revenue was up 38.5% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. Equities analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.74%. Kinross Gold's dividend payout ratio is presently 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.

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