Kinross Gold (NYSE:KGC) Price Target Raised to $6.00

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

A number of other analysts have also recently commented on KGC. National Bank Financial restated an outperform overweight rating on shares of Kinross Gold in a research note on Monday, April 8th. CIBC upped their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the company an outperform rating in a research note on Wednesday, February 7th. TheStreet cut shares of Kinross Gold from a b rating to a c+ rating in a research note on Friday, February 16th. Finally, StockNews.com upgraded shares of Kinross Gold from a hold rating to a buy rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of Moderate Buy and a consensus target price of $6.44.

Kinross Gold Stock Up 0.7 %

KGC opened at $6.61 on Monday. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.19 and a beta of 1.15. Kinross Gold has a twelve month low of $4.32 and a twelve month high of $6.82. The company’s 50-day moving average price is $5.76 and its two-hundred day moving average price is $5.63.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. As a group, equities analysts expect that Kinross Gold will post 0.36 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 21st. Investors of record on Wednesday, March 6th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

Hedge Funds Weigh In On Kinross Gold

Institutional investors have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC bought a new position in shares of Kinross Gold in the 4th quarter worth $26,000. Headlands Technologies LLC bought a new position in shares of Kinross Gold in the 4th quarter worth $44,000. CWM LLC increased its holdings in shares of Kinross Gold by 353.2% in the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company’s stock worth $34,000 after buying an additional 5,750 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Kinross Gold in the 4th quarter worth $53,000. Finally, Advisor Resource Council bought a new position in shares of Kinross Gold during the 1st quarter valued at $60,000. Institutional investors own 63.69% of the company’s stock.

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.