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

Kinross Gold (NYSE:KGC) (TSE:K) had its target price increased by Scotiabank from $7.00 to $8.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s target price would suggest a potential upside of 6.24% from the company’s previous close.

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

Kinross Gold Price Performance

Shares of KGC traded up $0.43 on Thursday, reaching $7.53. The stock had a trading volume of 18,209,043 shares, compared to its average volume of 14,704,012. The firm has a 50-day moving average of $6.11 and a 200 day moving average of $5.74. The firm has a market capitalization of $9.25 billion, a PE ratio of 22.18, a PEG ratio of 2.09 and a beta of 1.14. Kinross Gold has a twelve month low of $4.32 and a twelve month high of $7.56. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company earned $0.07 EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. Sell-side analysts expect that Kinross Gold will post 0.4 EPS for the current year.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently modified their holdings of KGC. Bruce G. Allen Investments LLC bought a new stake in Kinross Gold in the fourth quarter valued at about $26,000. Headlands Technologies LLC bought a new position in Kinross Gold during the fourth quarter worth $44,000. Compagnie Lombard Odier SCmA acquired a new position in Kinross Gold in the fourth quarter worth $53,000. Advisor Resource Council bought a new stake in Kinross Gold during the first quarter valued at $60,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth $63,000. 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.