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

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

A number of other research analysts have also weighed in on KGC. CIBC raised their price target 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 lowered shares of Kinross Gold from a b rating to a c+ rating in a research report on Friday, February 16th. Finally, National Bank Financial reaffirmed an outperform overweight rating on shares of Kinross Gold in a research report on Monday, April 8th. One 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 stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $6.44.

Kinross Gold Stock Up 2.0 %

KGC opened at $6.74 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’s 50-day moving average is $5.79 and its 200 day moving average is $5.63. Kinross Gold has a fifty-two week low of $4.32 and a fifty-two week high of $6.82. The firm has a market capitalization of $8.27 billion, a P/E ratio of 19.81, a PEG ratio of 2.23 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly 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. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm earned $0.09 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Research analysts expect that Kinross Gold will post 0.36 earnings per share for the current fiscal 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 paid a $0.03 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.78%. Kinross Gold’s payout ratio is 35.29%.

Hedge Funds Weigh In On Kinross Gold

Large investors have recently modified their holdings of the business. Bruce G. Allen Investments LLC purchased a new position in shares of Kinross Gold in the fourth quarter worth about $26,000. Headlands Technologies LLC purchased a new position in Kinross Gold during the fourth quarter valued at approximately $44,000. CWM LLC grew its stake in Kinross Gold by 353.2% during the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after acquiring an additional 5,750 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Kinross Gold during the fourth quarter valued at approximately $53,000. Finally, Advisor Resource Council purchased a new position in Kinross Gold during the first quarter valued at approximately $60,000. Hedge funds and other 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.