Kinross Gold (NYSE:KGC) Price Target Raised to $10.00

by · The Markets Daily

Kinross Gold (NYSE:KGC – Free Report) (TSE:K) had its target price upped by Jefferies Financial Group from $9.00 to $10.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a hold rating on the mining company’s stock.

Several other research analysts also recently commented on KGC. CIBC boosted their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an outperformer rating in a report on Wednesday, July 10th. Scotiabank lifted their target price on Kinross Gold from $9.50 to $11.00 and gave the company a sector outperform rating in a research note on Monday, August 19th. Finally, StockNews.com downgraded shares of Kinross Gold from a strong-buy rating to a buy rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kinross Gold has an average rating of Moderate Buy and a consensus price target of $9.50.

Get Our Latest Research Report on Kinross Gold

Kinross Gold Price Performance

Shares of KGC stock opened at $9.42 on Friday. The company has a market capitalization of $11.58 billion, a P/E ratio of 26.17, a P/E/G ratio of 0.55 and a beta of 1.24. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Kinross Gold has a 12 month low of $4.35 and a 12 month high of $10.10. The stock has a 50 day moving average of $9.10 and a two-hundred day moving average of $8.05.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $0.14 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts expect that Kinross Gold will post 0.6 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC increased its stake in Kinross Gold by 10.1% in the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after buying an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Kinross Gold by 18.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after purchasing an additional 2,180 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Kinross Gold by 1.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock valued at $790,000 after purchasing an additional 2,204 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Kinross Gold by 3.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 105,372 shares of the mining company’s stock valued at $647,000 after buying an additional 3,070 shares in the last quarter. Finally, Oxbow Advisors LLC raised its holdings in shares of Kinross Gold by 16.9% in the 2nd quarter. Oxbow Advisors LLC now owns 22,577 shares of the mining company’s stock valued at $188,000 after purchasing an additional 3,262 shares during the period. 63.69% of the stock is owned by institutional investors.

About Kinross Gold

(Get Free Report)

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.

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