Kinross Gold (NYSE:KGC) Price Target Raised to $17.00

Kinross Gold (NYSE:KGC) (TSE:K) had its target price raised by Scotiabank from $16.00 to $17.00 in a research report report published on Thursday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the mining company’s stock.

KGC has been the subject of a number of other research reports. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 18th. National Bankshares reaffirmed an “outperform” rating on shares of Kinross Gold in a research note on Wednesday, April 23rd. BMO Capital Markets assumed coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, CIBC increased their target price on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $13.50.

Kinross Gold Trading Up 1.9 %

Shares of KGC opened at $15.05 on Thursday. The firm has a fifty day simple moving average of $13.18 and a two-hundred day simple moving average of $11.32. Kinross Gold has a twelve month low of $7.20 and a twelve month high of $15.96. The stock has a market capitalization of $18.52 billion, a P/E ratio of 19.55, a PEG ratio of 0.68 and a beta of 0.64. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the business earned $0.10 EPS. Kinross Gold’s revenue was up 38.5% compared to the same quarter last year. On average, research analysts anticipate that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a $0.03 dividend. The ex-dividend date is Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.80%. Kinross Gold’s payout ratio is currently 15.58%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in shares of Kinross Gold during the first quarter valued at $77,000. Ontario Teachers Pension Plan Board increased its stake in Kinross Gold by 30.6% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 359,976 shares of the mining company’s stock valued at $4,536,000 after purchasing an additional 84,447 shares in the last quarter. Deutsche Bank AG raised its holdings in Kinross Gold by 7.6% in the first quarter. Deutsche Bank AG now owns 5,098,322 shares of the mining company’s stock worth $64,290,000 after buying an additional 359,461 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Kinross Gold in the first quarter worth approximately $958,000. Finally, Vanguard Group Inc. grew its holdings in shares of Kinross Gold by 1.2% during the first quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company’s stock valued at $603,829,000 after buying an additional 561,563 shares during the last quarter. Hedge funds and other 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.