First Trust Advisors LP Cuts Stock Position in Kinross Gold Co. (NYSE:KGC)

First Trust Advisors LP trimmed its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,285,192 shares of the mining company’s stock after selling 38,205 shares during the quarter. First Trust Advisors LP’s holdings in Kinross Gold were worth $11,916,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of Kinross Gold by 109.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,412 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its position in Kinross Gold by 30.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after purchasing an additional 1,002 shares during the period. SBI Securities Co. Ltd. bought a new stake in Kinross Gold in the fourth quarter worth $42,000. Global Retirement Partners LLC boosted its position in Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after buying an additional 4,788 shares during the period. Finally, Avior Wealth Management LLC grew its stake in shares of Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock valued at $67,000 after buying an additional 5,140 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KGC. BMO Capital Markets assumed coverage on Kinross Gold in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a research note on Monday, April 14th. Raymond James raised their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 4th. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, CIBC raised their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and a consensus target price of $13.30.

Kinross Gold Stock Performance

Shares of KGC stock opened at $14.49 on Monday. The firm has a market capitalization of $17.83 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 0.68 and a beta of 1.12. The stock has a fifty day moving average of $12.43 and a 200 day moving average of $11.01. Kinross Gold Co. has a 52 week low of $6.42 and a 52 week high of $15.46. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, research analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.83%. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

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.