Jefferies Financial Group Increases Kinross Gold (NYSE:KGC) Price Target to $6.00

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

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

Kinross Gold Trading Up 2.0 %

Shares of KGC opened at $6.74 on Monday. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $6.82. The firm has a 50-day moving average price of $5.79 and a 200 day moving average price of $5.63. The firm has a market capitalization of $8.27 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.23 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Kinross Gold’s quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts forecast that Kinross Gold will post 0.36 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.78%. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds have recently modified their holdings of the business. Bruce G. Allen Investments LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth $26,000. Headlands Technologies LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth $44,000. CWM LLC lifted its holdings 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 purchasing an additional 5,750 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of Kinross Gold during the fourth quarter worth $53,000. Finally, Advisor Resource Council acquired a new stake in shares of Kinross Gold during the first quarter worth $60,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

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.