Kinross Gold Co. (TSE:K) Receives C$13.33 Consensus Price Target from Brokerages

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have received a consensus recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$13.33.

A number of research firms recently issued reports on K. Cormark raised 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 report on Thursday, May 9th. National Bankshares raised their price target on Kinross Gold from C$13.75 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Eight Capital raised their price target on Kinross Gold from C$11.00 to C$15.00 in a report on Thursday, July 11th. Canaccord Genuity Group raised their price target on Kinross Gold from C$13.50 to C$16.00 in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus raised their price objective on shares of Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a research report on Friday, April 19th.

Insiders Place Their Bets

In other news, Senior Officer William D. Dunford sold 6,076 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of C$10.76, for a total transaction of C$65,377.76. In other news, Senior Officer Claude J.S. Schimper sold 30,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of C$10.39, for a total transaction of C$311,709.00. Also, Senior Officer William D. Dunford sold 6,076 shares of Kinross Gold stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of C$10.76, for a total transaction of C$65,377.76. In the last three months, insiders sold 643,076 shares of company stock valued at $6,954,397. Company insiders own 0.27% of the company’s stock.

Kinross Gold Stock Performance

Shares of K stock opened at C$11.82 on Wednesday. The stock’s 50-day moving average is C$11.39 and its two-hundred day moving average is C$9.40. The firm has a market cap of C$14.54 billion, a price-to-earnings ratio of 24.12, a PEG ratio of -0.60 and a beta of 1.19. Kinross Gold has a 1 year low of C$5.91 and a 1 year high of C$13.08. The company has a debt-to-equity ratio of 36.08, a quick ratio of 1.11 and a current ratio of 1.15.

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

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be paid a $0.041 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, August 22nd. Kinross Gold’s payout ratio is presently 32.65%.

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.