Mackenzie Financial Corp Sells 574,157 Shares of Kinross Gold Corporation (NYSE:KGC)

Mackenzie Financial Corp decreased its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 4.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 13,377,661 shares of the mining company’s stock after selling 574,157 shares during the quarter. Mackenzie Financial Corp’s holdings in Kinross Gold were worth $168,534,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in KGC. Vanguard Group Inc. grew its position in Kinross Gold by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock worth $439,881,000 after buying an additional 763,248 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after acquiring an additional 3,224,455 shares during the period. Norges Bank acquired a new stake in shares of Kinross Gold during the 4th quarter worth approximately $280,697,000. JPMorgan Chase & Co. increased its position in shares of Kinross Gold by 15.4% during the fourth quarter. JPMorgan Chase & Co. now owns 13,438,786 shares of the mining company’s stock valued at $124,578,000 after purchasing an additional 1,793,065 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Kinross Gold by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,419,382 shares of the mining company’s stock valued at $87,310,000 after purchasing an additional 160,755 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on KGC shares. National Bankshares reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Raymond James Financial raised shares of Kinross Gold to a “hold” rating and set a $15.00 price objective for the company in a report on Monday, June 30th. BMO Capital Markets began coverage on shares of Kinross Gold in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Jefferies Financial Group raised shares of Kinross Gold from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Finally, Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Kinross Gold has an average rating of “Buy” and a consensus target price of $18.00.

Kinross Gold Stock Up 1.8%

Shares of NYSE:KGC opened at $16.13 on Monday. The company’s fifty day moving average is $15.35 and its 200-day moving average is $13.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.22 and a current ratio of 2.83. Kinross Gold Corporation has a 52 week low of $7.84 and a 52 week high of $16.52. The company has a market capitalization of $19.78 billion, a PE ratio of 16.45, a P/E/G ratio of 0.56 and a beta of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. Equities research analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, May 29th. Kinross Gold’s payout ratio is currently 12.24%.

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.