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

Kinross Gold (NYSE:KGC) (TSE:K) had its target price boosted by equities research analysts at Jefferies Financial Group from $5.00 to $6.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the mining company’s stock. Jefferies Financial Group’s price target points to a potential downside of 8.54% from the stock’s current price.

Other research analysts have also issued research reports about the stock. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. CIBC lifted their price target on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. One research 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $6.44.

Kinross Gold Stock Performance

KGC opened at $6.56 on Monday. The stock has a 50-day moving average of $5.73 and a 200-day moving average of $5.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. Kinross Gold has a 52-week low of $4.32 and a 52-week high of $6.82. The company has a market cap of $8.05 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. 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 prior year, the business earned $0.09 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Kinross Gold will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Kinross Gold

Several institutional investors have recently made changes to their positions in KGC. Bruce G. Allen Investments LLC bought a new position in Kinross Gold during the fourth quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in Kinross Gold in the 4th quarter valued at $44,000. CWM LLC grew its position in Kinross Gold by 353.2% in 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 during the period. Compagnie Lombard Odier SCmA acquired a new position in Kinross Gold during the fourth quarter worth $53,000. Finally, Advisor Resource Council bought a new position in shares of Kinross Gold during the first quarter valued at $60,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.