Kinross Gold (TSE:K) Price Target Increased to C$16.00 by Analysts at Canaccord Genuity Group

Kinross Gold (TSE:K) (NYSE:KGC) had its price objective raised by Canaccord Genuity Group from C$13.50 to C$16.00 in a report published on Tuesday morning, BayStreet.CA reports.

Other research analysts have also recently issued research reports about the company. National Bankshares increased their price objective on Kinross Gold from C$13.75 to C$16.00 and gave the stock an outperform rating in a research report on Wednesday, July 17th. Stifel Nicolaus increased their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the stock a buy rating in a research report on Friday, April 19th. National Bank Financial reiterated an outperform overweight rating on shares of Kinross Gold in a research report on Monday, April 8th. Cormark upgraded Kinross Gold from a market perform rating to a buy rating and raised their price target for the stock from C$11.00 to C$13.00 in a research report on Thursday, May 9th. Finally, Eight Capital raised their price target on Kinross Gold from C$11.00 to C$15.00 in a research report on Thursday, July 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kinross Gold has an average rating of Buy and a consensus price target of C$13.33.

Kinross Gold Trading Up 1.0 %

Shares of Kinross Gold stock opened at C$11.92 on Tuesday. The business has a fifty day simple moving average of C$11.22 and a two-hundred day simple moving average of C$9.14. Kinross Gold has a 1 year low of C$5.91 and a 1 year high of C$12.86. The company has a market capitalization of C$14.66 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of -0.60 and a beta of 1.19. The company has a debt-to-equity ratio of 36.08, a current ratio of 1.15 and a quick ratio of 1.11.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings results on Tuesday, May 7th. The company reported C$0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.08 by C$0.06. Kinross Gold had a return on equity of 7.06% and a net margin of 9.86%. The business had revenue of C$1.46 billion during the quarter, compared to the consensus estimate of C$1.19 billion. Research analysts forecast that Kinross Gold will post 0.7244147 EPS for the current year.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, May 30th. Kinross Gold’s dividend payout ratio is presently 32.65%.

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 7,000 shares of Kinross Gold stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$11.09, for a total value of C$77,630.00. In other news, Senior Officer William D. Dunford sold 6,076 shares of Kinross Gold stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of C$10.76, for a total transaction of C$65,377.76. Also, Senior Officer Claude J.S. Schimper sold 7,000 shares of Kinross Gold stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of C$11.09, for a total value of C$77,630.00. Insiders have sold a total of 643,076 shares of company stock worth $6,954,397 over the last 90 days. Insiders own 0.27% of the company’s stock.

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.