Crossmark Global Holdings Inc. Has $847,000 Position in Kinross Gold Co. (NYSE:KGC)

Crossmark Global Holdings Inc. cut its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 2.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,850 shares of the mining company’s stock after selling 2,808 shares during the period. Crossmark Global Holdings Inc.’s holdings in Kinross Gold were worth $847,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Advisor Resource Council purchased a new position in shares of Kinross Gold during the 1st quarter valued at $60,000. Sivia Capital Partners LLC acquired a new stake in Kinross Gold during the fourth quarter valued at $63,000. Bright Futures Wealth Management LLC. purchased a new position in Kinross Gold in the first quarter valued at about $70,000. Fifth Third Bancorp increased its position in Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Kinross Gold by 113.1% during the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after purchasing an additional 6,011 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the subject of several recent research reports. CIBC boosted their price target on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. BMO Capital Markets boosted their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Scotiabank raised their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. Finally, Jefferies Financial Group increased their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus price target of $9.33.

Kinross Gold Stock Performance

Shares of KGC opened at $9.04 on Friday. The company has a market capitalization of $11.11 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 0.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. Kinross Gold Co. has a one year low of $4.32 and a one year high of $9.58. The company’s fifty day moving average price is $8.75 and its 200 day moving average price is $7.32.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts expect that Kinross Gold Co. will post 0.58 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd will be given a $0.03 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.33%. Kinross Gold’s dividend payout ratio is 33.33%.

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.