Analysts Set Kinross Gold Co. (NYSE:KGC) Price Target at $6.44

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have earned a consensus rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.44.

Several research firms recently commented on KGC. 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. CIBC increased their price objective on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Kinross Gold in the fourth quarter valued at $26,000. CWM LLC raised its stake in shares of 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 in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Kinross Gold in the fourth quarter valued at $44,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Kinross Gold in the fourth quarter valued at $53,000. Finally, Advisor Resource Council acquired a new stake in shares of Kinross Gold in the first quarter valued at $60,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $6.45 on Friday. The business has a 50 day simple moving average of $5.89 and a two-hundred day simple moving average of $5.68. Kinross Gold has a 12 month low of $4.32 and a 12 month high of $6.87. The stock has a market capitalization of $7.91 billion, a P/E ratio of 18.96, a PEG ratio of 2.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95.

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 the consensus estimate 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 last year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts predict that Kinross Gold will post 0.4 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.86%. Kinross Gold’s dividend payout ratio is currently 35.29%.

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.