Barclays Raises Kinross Gold (NYSE:KGC) Price Target to $7.00

Kinross Gold (NYSE:KGCGet Rating) (TSE:K) had its price target lifted by stock analysts at Barclays from $6.00 to $7.00 in a report issued on Thursday, The Fly reports. Barclays‘s price objective points to a potential upside of 16.67% from the stock’s current price.

Several other equities analysts have also recently commented on KGC. National Bank Financial upped their target price on shares of Kinross Gold from C$11.00 to C$12.00 in a research note on Wednesday. TD Securities cut their target price on shares of Kinross Gold from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Thursday, March 3rd. Raymond James set a $7.50 target price on shares of Kinross Gold and gave the company an “outperform” rating in a research note on Wednesday, April 6th. StockNews.com started coverage on shares of Kinross Gold in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, CSFB set a $7.00 price objective on shares of Kinross Gold and gave the company an “outperform” rating in a research note on Thursday, February 17th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $8.60.

NYSE KGC opened at $6.00 on Thursday. The company has a current ratio of 2.63, a quick ratio of 1.08 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $5.72 and a 200 day simple moving average of $5.81. The company has a market cap of $7.77 billion, a P/E ratio of 35.29 and a beta of 0.97. Kinross Gold has a 1 year low of $4.90 and a 1 year high of $8.34.

Kinross Gold (NYSE:KGCGet Rating) (TSE:K) last posted its quarterly earnings data on Wednesday, February 16th. The mining company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The business had revenue of $879.50 million during the quarter, compared to the consensus estimate of $927.06 million. Kinross Gold had a net margin of 5.93% and a return on equity of 8.00%. Kinross Gold’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 EPS. Equities research analysts forecast that Kinross Gold will post 0.6 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. DeDora Capital Inc. bought a new stake in Kinross Gold during the 4th quarter worth about $1,792,000. Geneos Wealth Management Inc. boosted its stake in shares of Kinross Gold by 4,360.5% in the 3rd quarter. Geneos Wealth Management Inc. now owns 7,672 shares of the mining company’s stock valued at $40,000 after purchasing an additional 7,500 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Kinross Gold by 84.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 7,875 shares of the mining company’s stock valued at $42,000 after acquiring an additional 3,600 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in shares of Kinross Gold by 28.6% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 9,000 shares of the mining company’s stock valued at $52,000 after acquiring an additional 2,000 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Kinross Gold in the 4th quarter valued at approximately $57,000. 57.21% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Company Profile (Get Rating)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

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