Crossmark Global Holdings Inc. Cuts Stake in Kinross Gold Co. (NYSE:KGC)

Crossmark Global Holdings Inc. lowered its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 42.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,489 shares of the mining company’s stock after selling 43,361 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Kinross Gold were worth $547,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Fiera Capital Corp purchased a new stake in shares of Kinross Gold during the third quarter worth about $99,000. Intact Investment Management Inc. purchased a new stake in shares of Kinross Gold during the third quarter worth about $340,000. US Bancorp DE grew its position in shares of Kinross Gold by 33.4% during the third quarter. US Bancorp DE now owns 45,521 shares of the mining company’s stock worth $426,000 after purchasing an additional 11,394 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Kinross Gold by 2.7% during the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock worth $447,000 after purchasing an additional 1,235 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Kinross Gold during the third quarter worth about $319,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE:KGC opened at $9.25 on Friday. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.46 and a beta of 1.22. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $10.82. The business has a 50 day simple moving average of $9.81 and a 200-day simple moving average of $8.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. Equities analysts forecast that Kinross Gold Co. will post 0.69 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s dividend payout ratio is currently 19.67%.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of research reports. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, Scotiabank increased their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.00.

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.