Kinross Gold Co. (TSE:K) Receives C$11.28 Average Price Target from Analysts

Kinross Gold Co. (TSE:K) (NYSE:KGC) has been given an average recommendation of “Buy” by the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$11.22.

Several analysts have issued reports on K shares. Canaccord Genuity cut their price objective on Kinross Gold from C$13.50 to C$12.50 and set a “buy” rating on the stock in a research note on Friday, July 30th. Cormark cut their price objective on Kinross Gold from C$10.50 to C$9.00 and set a “buy” rating on the stock in a research note on Thursday, June 24th. Royal Bank of Canada reiterated an “outperform” rating and set a C$8.00 price target on shares of Kinross Gold in a research report on Friday, July 30th. Raymond James increased their price target on Kinross Gold to C$10.50 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, CIBC cut Kinross Gold from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from C$11.25 to C$8.50 in a research report on Tuesday, June 22nd.

In other Kinross Gold news, Senior Officer Paul Botond Stilicho Tomory sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of C$8.14, for a total transaction of C$187,220.00. Following the transaction, the insider now directly owns 101,626 shares in the company, valued at C$827,235.64. Also, Senior Officer Michel Sylvestre sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of C$7.68, for a total value of C$99,840.00. Following the completion of the sale, the insider now directly owns 48,363 shares in the company, valued at C$371,427.84.

K traded up C$0.14 on Friday, reaching C$7.62. The company’s stock had a trading volume of 2,822,196 shares, compared to its average volume of 3,784,737. The stock has a market cap of C$9.62 billion and a price-to-earnings ratio of 5.95. Kinross Gold has a 1 year low of C$6.56 and a 1 year high of C$12.36. The company has a debt-to-equity ratio of 21.72, a current ratio of 3.06 and a quick ratio of 1.22. The business’s 50 day moving average is C$7.27 and its 200 day moving average is C$8.25.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Wednesday, July 28th. The company reported C$0.15 EPS for the quarter, meeting analysts’ consensus estimates of C$0.15. The business had revenue of C$1.23 billion during the quarter, compared to analysts’ expectations of C$1.27 billion. As a group, research analysts forecast that Kinross Gold will post 1.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 2nd. Stockholders of record on Thursday, August 19th were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, August 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.57%. Kinross Gold’s payout ratio is currently 9.35%.

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, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

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Analyst Recommendations for Kinross Gold (TSE:K)

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