Scotiabank Increases Kinross Gold (NYSE:KGC) Price Target to $8.00

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K had its price target lifted by equities research analysts at 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 price target indicates a potential upside of 6.10% from the company's current price.

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

Kinross Gold Trading Up 6.2 %

Shares of KGC traded up $0.44 during midday trading on Thursday, reaching $7.54. The company had a trading volume of 18,632,653 shares, compared to its average volume of 14,718,519. Kinross Gold has a 1-year low of $4.32 and a 1-year high of $7.56. The stock has a market cap of $9.26 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14. The firm has a 50 day simple moving average of $6.16 and a 200-day simple moving average of $5.75. 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 - Get Free Report) TSE: K last issued its earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.04. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned $0.07 EPS. The company's revenue for the quarter was up 16.4% on a year-over-year basis. Research analysts forecast that Kinross Gold will post 0.4 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 the stock. 180 Wealth Advisors LLC grew its position in shares of Kinross Gold by 6.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company's stock worth $225,000 after buying an additional 2,157 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Kinross Gold by 1.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company's stock worth $790,000 after buying an additional 2,204 shares in the last quarter. PFG Investments LLC grew its position in shares of Kinross Gold by 13.6% during the first quarter. PFG Investments LLC now owns 20,454 shares of the mining company's stock worth $125,000 after buying an additional 2,454 shares in the last quarter. Metis Global Partners LLC grew its position in shares of Kinross Gold by 7.6% during the fourth quarter. Metis Global Partners LLC now owns 42,784 shares of the mining company's stock worth $259,000 after buying an additional 3,018 shares in the last quarter. Finally, Advisor Partners II LLC grew its position in shares of Kinross Gold by 3.7% during the third quarter. Advisor Partners II LLC now owns 84,050 shares of the mining company's stock worth $383,000 after buying an additional 3,035 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

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.