Kinross Gold (NYSE:KGC) Price Target Raised to $17.00

Kinross Gold (NYSE:KGC) (TSE:K) had its price target hoisted by equities researchers at Scotiabank from $16.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s price target indicates a potential upside of 12.96% from the company’s previous close.

A number of other research firms have also recently commented on KGC. BMO Capital Markets started coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They set an “outperform” rating on the stock. Raymond James lifted their target price on Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 4th. CIBC upped their price target on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 18th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and a consensus target price of $13.50.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $15.05 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The company has a 50 day simple moving average of $13.18 and a two-hundred day simple moving average of $11.32. Kinross Gold has a fifty-two week low of $7.20 and a fifty-two week high of $15.96. The company has a market capitalization of $18.52 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 0.68 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 38.5% on a year-over-year basis. Analysts expect that Kinross Gold will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently made changes to their positions in KGC. Jones Financial Companies Lllp increased its holdings in Kinross Gold by 109.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after buying an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its position in shares of Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock valued at $40,000 after acquiring an additional 1,002 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Kinross Gold in the 4th quarter worth $42,000. Global Retirement Partners LLC raised its holdings in Kinross Gold by 747.0% in the 4th quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after purchasing an additional 4,788 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in Kinross Gold during the first quarter valued at $55,000. Hedge funds and other 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.