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

Mackenzie Financial Corp raised its position in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,593,655 shares of the mining company's stock after buying an additional 1,239,966 shares during the quarter. Mackenzie Financial Corp owned about 0.86% of Kinross Gold worth $64,151,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new position in shares of Kinross Gold in the 4th quarter valued at approximately $26,000. S.A. Mason LLC purchased a new position in shares of Kinross Gold in the 3rd quarter valued at approximately $27,000. CWM LLC raised its position in shares of Kinross Gold by 353.2% in the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company's stock valued at $34,000 after purchasing an additional 5,750 shares during the last quarter. Natixis purchased a new position in shares of Kinross Gold in the 4th quarter valued at approximately $35,000. Finally, United Capital Financial Advisers LLC purchased a new position in shares of Kinross Gold in the 4th quarter valued at approximately $43,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

Kinross Gold stock traded up $0.11 during trading on Wednesday, reaching $6.42. The company had a trading volume of 17,453,528 shares, compared to its average volume of 14,156,699. The firm's 50-day simple moving average is $5.59 and its 200 day simple moving average is $5.55. Kinross Gold Co. has a 1-year low of $4.32 and a 1-year high of $6.81. The firm has a market capitalization of $7.88 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the company earned $0.09 EPS. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Kinross Gold Co. will post 0.36 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.87%. Kinross Gold's payout ratio is currently 35.29%.

Analysts Set New Price Targets

KGC has been the topic of several research reports. TheStreet downgraded shares of Kinross Gold from a "b" rating to a "c+" rating in a report on Friday, February 16th. Jefferies Financial Group initiated coverage on shares of Kinross Gold in a report on Thursday, February 29th. They issued a "hold" rating and a $5.00 price target on the stock. CIBC increased their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an "outperform" rating in a report on Wednesday, February 7th. National Bank Financial reiterated an "outperform overweight" rating on shares of Kinross Gold in a report on Monday, April 8th. Finally, StockNews.com upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $6.28.

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.