Kinross Gold (NYSE:KGC) Price Target Increased to $9.50 by Analysts at Scotiabank

Kinross Gold (NYSE:KGC) (TSE:K) had its price target hoisted by Scotiabank from $8.00 to $9.50 in a report published on Thursday, MarketBeat reports. The brokerage currently has an outperform rating on the mining company’s stock.

KGC has been the topic of several other research reports. Cormark upgraded Kinross Gold from a hold rating to a moderate buy rating in a research report on Thursday, May 9th. CIBC increased their price target on Kinross Gold from $7.00 to $8.15 and gave the company an outperform rating in a report on Wednesday, February 7th. Jefferies Financial Group increased their price target on Kinross Gold from $5.00 to $6.00 and gave the company a hold rating in a report on Monday, April 22nd. TheStreet cut Kinross Gold from a b rating to a c+ rating in a report on Friday, February 16th. Finally, StockNews.com raised Kinross Gold from a hold rating to a buy rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $7.59.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $7.88 on Thursday. The stock has a market capitalization of $9.68 billion, a P/E ratio of 21.89, a PEG ratio of 0.50 and a beta of 1.14. The business has a 50 day simple moving average of $6.65 and a two-hundred day simple moving average of $5.93. Kinross Gold has a 12 month low of $4.32 and a 12 month high of $8.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. As a group, analysts predict that Kinross Gold will post 0.49 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.12 annualized dividend and a yield of 1.52%. Kinross Gold’s dividend payout ratio (DPR) is 33.33%.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its stake in Kinross Gold by 9.5% during the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after acquiring an additional 13,099,791 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Kinross Gold by 1.1% in the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after buying an additional 497,531 shares in the last quarter. Norges Bank acquired a new stake in shares of Kinross Gold in the fourth quarter valued at $265,327,000. Ruffer LLP grew its stake in shares of Kinross Gold by 4.6% in the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after buying an additional 877,104 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Kinross Gold by 44.0% in the fourth quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock valued at $102,236,000 after buying an additional 5,162,124 shares in the last quarter. Institutional investors and hedge funds 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.