Mackenzie Financial Corp Has $64.15 Million Stock Holdings in Kinross Gold Co. (NYSE:KGC)

Mackenzie Financial Corp boosted its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing 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’s holdings in Kinross Gold were worth $64,151,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new position in Kinross Gold in the fourth quarter valued at approximately $26,000. S.A. Mason LLC bought a new position in Kinross Gold in the third quarter valued at approximately $27,000. CWM LLC grew its stake in Kinross Gold by 353.2% in the third 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 in the last quarter. Natixis bought a new position in Kinross Gold in the fourth quarter valued at approximately $35,000. Finally, Compagnie Lombard Odier SCmA bought a new position in Kinross Gold in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $6.31 on Wednesday. The stock has a market capitalization of $7.75 billion, a PE ratio of 18.56, a P/E/G ratio of 2.05 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. The business has a fifty day moving average price of $5.59 and a two-hundred day moving average price of $5.55. Kinross Gold Co. has a fifty-two week low of $4.32 and a fifty-two week high of $6.81.

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

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.90%. Kinross Gold’s dividend payout ratio (DPR) is currently 35.29%.

Analyst Ratings Changes

Several research analysts have recently commented on KGC shares. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. CIBC lifted their target price on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Jefferies Financial Group began coverage on Kinross Gold in a research note on Thursday, February 29th. They set a “hold” rating and a $5.00 target price for the company. Finally, TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. One equities 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. Based on data from MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and an average target price of $6.28.

About Kinross Gold

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.