Kinross Gold (NYSE:KGC) Price Target Increased to $6.00 by Analysts at Jefferies Financial Group

Kinross Gold (NYSE:KGC) (TSE:K) had its price target increased by Jefferies Financial Group from $5.00 to $6.00 in a report published on Monday, BayStreet.CA reports. The firm currently has a hold rating on the mining company’s stock.

Other equities analysts have also recently issued research reports about the company. CIBC upped 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. National Bank Financial reaffirmed an outperform overweight rating on shares of Kinross Gold in a research report on Monday, April 8th. StockNews.com raised shares of Kinross Gold from a hold rating to a buy rating in a research report on Tuesday, April 2nd. Finally, TheStreet cut Kinross Gold from a b rating to a c+ rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $6.44.

Kinross Gold Stock Performance

NYSE:KGC opened at $6.47 on Monday. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 2.29 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. Kinross Gold has a 1-year low of $4.32 and a 1-year high of $6.82. The firm’s fifty day moving average price is $5.70 and its 200 day moving average price is $5.61.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, sell-side analysts expect that Kinross Gold will post 0.36 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is currently 35.29%.

Hedge Funds Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently bought and sold shares of KGC. CWM LLC raised its position in shares of Kinross Gold by 353.2% during the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock worth $34,000 after acquiring an additional 5,750 shares during the last quarter. Maryland State Retirement & Pension System raised its position in shares of Kinross Gold by 2.4% during the third quarter. Maryland State Retirement & Pension System now owns 793,972 shares of the mining company’s stock worth $3,620,000 after acquiring an additional 18,314 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Kinross Gold by 4.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 583,889 shares of the mining company’s stock worth $2,673,000 after acquiring an additional 23,185 shares during the last quarter. Advisor Partners II LLC raised its position in shares of Kinross Gold by 3.7% during the third quarter. Advisor Partners II LLC now owns 84,050 shares of the mining company’s stock worth $383,000 after acquiring an additional 3,035 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of Kinross Gold by 7.1% during the third quarter. First Trust Direct Indexing L.P. now owns 57,593 shares of the mining company’s stock worth $263,000 after acquiring an additional 3,836 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.