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

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

Other analysts have also issued reports about the stock. TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. CIBC upped 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. Finally, StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.44.

Kinross Gold Stock Performance

Shares of KGC stock opened at $6.56 on Monday. The company has a market capitalization of $8.05 billion, a P/E ratio of 19.29, a PEG ratio of 2.29 and a beta of 1.15. Kinross Gold has a fifty-two week low of $4.32 and a fifty-two week high of $6.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. The stock has a 50 day moving average price of $5.73 and a two-hundred day moving average price of $5.62.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. Analysts expect that Kinross Gold will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds have recently bought and sold shares of KGC. 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 valued at $34,000 after purchasing an additional 5,750 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in Kinross Gold by 2.4% during the third quarter. Maryland State Retirement & Pension System now owns 793,972 shares of the mining company’s stock valued at $3,620,000 after buying an additional 18,314 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Kinross Gold by 4.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 583,889 shares of the mining company’s stock valued at $2,673,000 after buying an additional 23,185 shares during the last quarter. Advisor Partners II LLC boosted its holdings in Kinross Gold by 3.7% in the third quarter. Advisor Partners II LLC now owns 84,050 shares of the mining company’s stock worth $383,000 after acquiring an additional 3,035 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Kinross Gold by 7.1% in the third quarter. First Trust Direct Indexing L.P. now owns 57,593 shares of the mining company’s stock worth $263,000 after acquiring an additional 3,836 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

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.