Kinross Gold Co. (NYSE:KGC) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,593,655 shares of the mining company’s stock after acquiring an additional 1,239,966 shares during the period. Mackenzie Financial Corp owned approximately 0.86% of Kinross Gold worth $64,151,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of KGC. Millennium Management LLC grew its holdings in Kinross Gold by 207.3% during the fourth quarter. Millennium Management LLC now owns 16,449,766 shares of the mining company’s stock worth $67,244,000 after acquiring an additional 11,097,512 shares during the period. 1832 Asset Management L.P. grew its holdings in Kinross Gold by 374.2% during the first quarter. 1832 Asset Management L.P. now owns 11,766,352 shares of the mining company’s stock worth $68,230,000 after acquiring an additional 9,285,284 shares during the period. Boston Partners grew its holdings in Kinross Gold by 96.1% during the third quarter. Boston Partners now owns 11,736,328 shares of the mining company’s stock worth $53,518,000 after acquiring an additional 5,752,397 shares during the period. Two Sigma Investments LP grew its holdings in Kinross Gold by 81.1% during the first quarter. Two Sigma Investments LP now owns 9,436,084 shares of the mining company’s stock worth $44,444,000 after acquiring an additional 4,224,588 shares during the period. Finally, Morgan Stanley grew its holdings in Kinross Gold by 39.4% during the fourth quarter. Morgan Stanley now owns 9,731,182 shares of the mining company’s stock worth $39,801,000 after acquiring an additional 2,751,647 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KGC has been the topic of a number of research analyst reports. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. CIBC lifted their price target 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 initiated coverage on Kinross Gold in a research note on Thursday, February 29th. They issued a “hold” rating and a $5.00 price target on the stock. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Finally, StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.28.

Kinross Gold Trading Down 1.6 %

Shares of NYSE KGC opened at $6.31 on Wednesday. Kinross Gold Co. has a one year low of $4.32 and a one year high of $6.81. The firm has a market capitalization of $7.75 billion, a PE ratio of 18.56, a PEG ratio of 2.05 and a beta of 1.15. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $5.59 and a two-hundred day moving average price of $5.55.

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

Kinross Gold Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.90%. Kinross Gold’s dividend payout ratio is 35.29%.

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.