Kinross Gold (NYSE:KGC) Price Target Increased to $8.00 by Analysts at Scotiabank

Kinross Gold (NYSE:KGC) (TSE:K) had its price target lifted by Scotiabank from $7.00 to $8.00 in a report released on Thursday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the mining company’s stock.

Other research analysts have also recently issued reports about the stock. StockNews.com raised shares of Kinross Gold from a hold rating to a buy rating in a report on Tuesday, April 2nd. National Bank Financial restated an outperform overweight rating on shares of Kinross Gold in a research note on Monday, April 8th. TheStreet cut Kinross Gold from a b rating to a c+ rating in a research report on Friday, February 16th. Jefferies Financial Group boosted their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the company a hold rating in a research report on Monday, April 22nd. Finally, CIBC boosted their price objective on shares of Kinross Gold from $7.00 to $8.15 and gave the company an outperform rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $6.69.

Kinross Gold Stock Performance

Kinross Gold stock traded up $0.06 during midday trading on Thursday, reaching $7.59. 20,354,349 shares of the company’s stock were exchanged, compared to its average volume of 18,072,564. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 1.15. The stock’s 50-day simple moving average is $6.21 and its 200 day simple moving average is $5.77. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.33 and a beta of 1.14. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $7.70.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $1.08 billion during 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 company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. On average, analysts expect that Kinross Gold will post 0.4 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be given 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 1.58%. Kinross Gold’s dividend payout ratio is currently 33.33%.

Institutional Investors Weigh In On Kinross Gold

A number of large investors have recently modified their holdings of the business. Bruce G. Allen Investments LLC acquired a new position in Kinross Gold during the fourth quarter worth about $26,000. Headlands Technologies LLC acquired a new position in Kinross Gold during the 4th quarter worth approximately $44,000. Compagnie Lombard Odier SCmA bought a new position in Kinross Gold in the 4th quarter valued at approximately $53,000. Advisor Resource Council acquired a new stake in Kinross Gold in the first quarter valued at approximately $60,000. Finally, Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold during the fourth quarter worth $63,000. 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.