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

Kinross Gold (NYSE:KGC) (TSE:K) had its target price raised by Jefferies Financial Group from $9.00 to $10.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the mining company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 6.16% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Scotiabank upped their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, CIBC raised their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Kinross Gold Stock Down 1.2 %

Shares of KGC opened at $9.42 on Friday. The stock’s 50-day moving average price is $9.10 and its two-hundred day moving average price is $8.03. Kinross Gold has a 12 month low of $4.35 and a 12 month high of $10.10. The company has a market capitalization of $11.58 billion, a PE ratio of 26.17, a PEG ratio of 0.55 and a beta of 1.24. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts anticipate that Kinross Gold will post 0.6 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 the company. Truist Financial Corp increased its stake in Kinross Gold by 33.2% during the 2nd quarter. Truist Financial Corp now owns 161,900 shares of the mining company’s stock valued at $1,347,000 after purchasing an additional 40,371 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Kinross Gold by 18.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after acquiring an additional 2,180 shares in the last quarter. Creative Planning raised its holdings in shares of Kinross Gold by 48.6% in the 2nd quarter. Creative Planning now owns 64,256 shares of the mining company’s stock worth $535,000 after acquiring an additional 21,004 shares during the last quarter. Lighthouse Investment Partners LLC lifted its position in Kinross Gold by 1,401.5% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 273,175 shares of the mining company’s stock valued at $2,273,000 after acquiring an additional 254,981 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Kinross Gold by 6.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock valued at $91,255,000 after purchasing an additional 643,013 shares during the last quarter. 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.