Kinross Gold (NYSE:KGC) PT Raised to $10.00 at Jefferies Financial Group

Kinross Gold (NYSE:KGC) (TSE:K) had its target price upped by Jefferies Financial Group from $9.00 to $10.00 in a report published on Friday morning, Benzinga reports. They currently have a hold rating on the mining company’s stock.

KGC has been the subject of several other research reports. Scotiabank lifted their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a sector outperform rating in a report on Monday, August 19th. CIBC boosted their price target on Kinross Gold from $8.15 to $12.00 and gave the company an outperformer rating in a research note on Wednesday, July 10th. Finally, StockNews.com cut shares of Kinross Gold from a strong-buy rating to a buy rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Kinross Gold presently has an average rating of Moderate Buy and a consensus price target of $9.50.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $9.34 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24. The business has a 50-day simple moving average of $9.10 and a two-hundred day simple moving average of $8.05. Kinross Gold has a fifty-two week low of $4.67 and a fifty-two week high of $10.10.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company earned $0.14 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts expect that Kinross Gold will post 0.6 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.29%. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in shares of Kinross Gold by 53.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 5,939,895 shares of the mining company’s stock valued at $36,010,000 after acquiring an additional 2,076,920 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Kinross Gold by 1.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock worth $790,000 after purchasing an additional 2,204 shares in the last quarter. Schroder Investment Management Group boosted its stake in Kinross Gold by 17.5% in the 4th quarter. Schroder Investment Management Group now owns 3,772,363 shares of the mining company’s stock worth $22,823,000 after purchasing an additional 561,300 shares during the period. Barometer Capital Management Inc. purchased a new stake in Kinross Gold during the 4th quarter valued at approximately $2,035,000. Finally, GeoSphere Capital Management LLC bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $2,420,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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.