Mackenzie Financial Corp Buys 643,013 Shares of Kinross Gold Co. (NYSE:KGC)

Mackenzie Financial Corp lifted its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,959,397 shares of the mining company’s stock after buying an additional 643,013 shares during the period. Mackenzie Financial Corp owned approximately 0.89% of Kinross Gold worth $91,255,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KGC. SCP Investment LP lifted its position in shares of Kinross Gold by 255.3% during the 4th quarter. SCP Investment LP now owns 66,800 shares of the mining company’s stock valued at $379,000 after buying an additional 48,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Kinross Gold by 33.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,319,428 shares of the mining company’s stock valued at $32,183,000 after buying an additional 1,336,756 shares during the period. United Services Automobile Association bought a new stake in shares of Kinross Gold during the fourth quarter worth $287,000. TD Asset Management Inc boosted its stake in shares of Kinross Gold by 0.4% during the fourth quarter. TD Asset Management Inc now owns 3,909,915 shares of the mining company’s stock valued at $23,781,000 after purchasing an additional 15,218 shares during the period. Finally, Qtron Investments LLC increased its holdings in Kinross Gold by 40.0% during the 4th quarter. Qtron Investments LLC now owns 109,363 shares of the mining company’s stock worth $665,000 after purchasing an additional 31,264 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Kinross Gold stock opened at $9.47 on Friday. The firm’s 50 day simple moving average is $9.02 and its 200-day simple moving average is $7.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. Kinross Gold Co. has a fifty-two week low of $4.32 and a fifty-two week high of $10.10. The company has a market cap of $11.63 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 0.55 and a beta of 1.23.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. As a group, equities research analysts predict that Kinross Gold Co. will post 0.6 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a $0.03 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.27%. Kinross Gold’s dividend payout ratio is 33.33%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Scotiabank boosted their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. CIBC raised their price objective on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group lifted their price target on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.33.

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.