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

First Trust Direct Indexing L.P. lessened its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 14.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other large investors have also added to or reduced their stakes in the business. Bruce G. Allen Investments LLC purchased a new stake in shares of Kinross Gold in the fourth quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in Kinross Gold during the 4th quarter valued at $44,000. Compagnie Lombard Odier SCmA purchased a new position in Kinross Gold during the 4th quarter worth $53,000. SCP Investment LP grew its stake in shares of Kinross Gold by 59.3% in the 3rd quarter. SCP Investment LP now owns 18,800 shares of the mining company’s stock worth $86,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Pearl River Capital LLC raised its holdings in shares of Kinross Gold by 17.9% in the third quarter. Pearl River Capital LLC now owns 21,100 shares of the mining company’s stock valued at $96,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.4 %

KGC stock opened at $6.78 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 2.09 and a beta of 1.14. Kinross Gold Co. has a fifty-two week low of $4.32 and a fifty-two week high of $6.87. The stock has a fifty day moving average of $6.06 and a 200-day moving average of $5.73.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company posted $0.09 EPS. Kinross Gold’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict that Kinross Gold Co. will post 0.4 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid 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 1.77%. Kinross Gold’s payout ratio is 35.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a research 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 report on Wednesday, February 7th. Jefferies Financial Group boosted their price objective on Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus target price of $6.44.

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.