Kinross Gold (NYSE:KGC) Price Target Raised to $9.50

Kinross Gold (NYSE:KGCFree Report) (TSE:K) had its price target upped by Scotiabank from $8.00 to $9.50 in a research note released on Thursday morning, Marketbeat reports. Scotiabank currently has an outperform rating on the mining company’s stock.

Several other equities analysts have also weighed in on KGC. CIBC raised their target price on Kinross Gold from $7.00 to $8.15 and gave the company an outperform rating in a report on Wednesday, February 7th. StockNews.com upgraded Kinross Gold from a hold rating to a buy rating in a report on Tuesday, April 2nd. TheStreet cut Kinross Gold from a b rating to a c+ rating in a research report on Friday, February 16th. Cormark raised shares of Kinross Gold from a hold rating to a moderate buy rating in a research report on Thursday, May 9th. Finally, BMO Capital Markets upped their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an outperform rating in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $7.59.

Check Out Our Latest Analysis on Kinross Gold

Kinross Gold Trading Up 2.4 %

Shares of NYSE KGC opened at $8.07 on Thursday. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 0.49 and a beta of 1.14. The business has a 50 day simple moving average of $6.70 and a 200 day simple moving average of $5.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $8.23.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last posted its earnings results on Tuesday, May 7th. The mining company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, research analysts predict that Kinross Gold will post 0.5 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.12 annualized dividend and a yield of 1.49%. Kinross Gold’s dividend payout ratio is 33.33%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cetera Advisors LLC increased its stake in Kinross Gold by 10.1% during the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after acquiring an additional 1,828 shares during the period. 180 Wealth Advisors LLC grew its holdings in shares of Kinross Gold by 6.0% during the 4th quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company’s stock worth $225,000 after purchasing an additional 2,157 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Kinross Gold by 1.7% during 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 during the period. PFG Investments LLC raised its stake in shares of Kinross Gold by 13.6% in the first quarter. PFG Investments LLC now owns 20,454 shares of the mining company’s stock valued at $125,000 after purchasing an additional 2,454 shares in the last quarter. Finally, Metis Global Partners LLC lifted its position in Kinross Gold by 7.6% in the fourth quarter. Metis Global Partners LLC now owns 42,784 shares of the mining company’s stock worth $259,000 after purchasing an additional 3,018 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.

Further Reading

Analyst Recommendations for Kinross Gold (NYSE:KGC)

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