First Trust Direct Indexing L.P. Sells 8,596 Shares of Kinross Gold Co. (NYSE:KGC)

First Trust Direct Indexing L.P. decreased its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 14.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 48,997 shares of the mining company’s stock after selling 8,596 shares during the period. First Trust Direct Indexing L.P.’s holdings in Kinross Gold were worth $296,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KGC. Vanguard Group Inc. boosted its stake in shares of Kinross Gold by 1.1% during the third quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock valued at $202,484,000 after purchasing an additional 463,035 shares during the period. Boston Partners increased its holdings in shares of Kinross Gold by 96.1% during the third quarter. Boston Partners now owns 11,736,328 shares of the mining company’s stock valued at $53,518,000 after acquiring an additional 5,752,397 shares in the last quarter. Mackenzie Financial Corp raised its stake in Kinross Gold by 13.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock worth $64,151,000 after acquiring an additional 1,239,966 shares during the last quarter. American Century Companies Inc. boosted its position in Kinross Gold by 24.9% in the third quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock valued at $36,680,000 after buying an additional 1,603,951 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Kinross Gold by 14.3% in the third quarter. Gabelli Funds LLC now owns 4,965,900 shares of the mining company’s stock worth $22,645,000 after acquiring an additional 622,000 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.4 %

Shares of NYSE:KGC opened at $6.78 on Wednesday. The firm has a 50 day simple moving average of $6.06 and a 200-day simple moving average of $5.73. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $6.87. 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 company has a market capitalization of $8.32 billion, a PE ratio of 19.93, a P/E/G ratio of 2.09 and a beta of 1.14.

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 for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. Kinross Gold’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. On average, equities analysts predict that Kinross Gold Co. will post 0.4 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s payout ratio is currently 35.29%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KGC. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. TheStreet cut shares of Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. Jefferies Financial Group lifted their target price on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. Finally, CIBC boosted 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.44.

Kinross Gold 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.