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

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

Several other research analysts have also recently weighed in on KGC. StockNews.com upgraded shares of Kinross Gold from a hold rating to a buy rating in a research report on Tuesday, April 2nd. National Bank Financial reaffirmed an outperform overweight rating on shares of Kinross Gold in a report on Monday, April 8th. TheStreet lowered shares of Kinross Gold from a b rating to a c+ rating in a report on Friday, February 16th. Finally, CIBC lifted their target price on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an outperform rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kinross Gold has a consensus rating of Moderate Buy and an average target price of $6.44.

Kinross Gold Stock Performance

KGC stock opened at $6.61 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. The company has a 50 day moving average price of $5.76 and a 200 day moving average price of $5.63. Kinross Gold has a fifty-two week low of $4.32 and a fifty-two week high of $6.82. The stock has a market capitalization of $8.11 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.19 and a beta of 1.15.

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

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $0.03 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.82%. Kinross Gold’s payout ratio is 35.29%.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Kinross Gold by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock valued at $271,841,000 after purchasing an additional 528,121 shares during the period. Norges Bank acquired a new position in Kinross Gold in the 4th quarter valued at about $265,327,000. Ruffer LLP grew its stake in Kinross Gold by 4.6% in the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after buying an additional 877,104 shares during the last quarter. Boston Partners grew its stake in Kinross Gold by 44.0% in the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock valued at $102,236,000 after buying an additional 5,162,124 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Kinross Gold by 13.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock valued at $64,151,000 after buying an additional 1,239,966 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

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.