Kinross Gold Co. (TSE:K) Receives C$11.88 Consensus Target Price from Brokerages

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have been given a consensus rating of “Buy” by the six analysts that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is C$11.88.

K has been the topic of several analyst reports. Stifel Nicolaus boosted their price target on shares of Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a report on Friday, April 19th. National Bankshares boosted their price target on shares of Kinross Gold from C$13.50 to C$13.75 in a report on Thursday, May 9th. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Eight Capital boosted their price target on shares of Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Canaccord Genuity Group lifted their price objective on shares of Kinross Gold from C$12.50 to C$13.50 and gave the stock a “buy” rating in a research report on Thursday, May 16th.

Insider Activity at Kinross Gold

In related news, Senior Officer Claude J.S. Schimper sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of C$10.39, for a total value of C$311,709.00. In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 30,000 shares of Kinross Gold stock in a transaction that occurred 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 that occurred on Wednesday, June 26th. The stock was sold at an average price of C$10.76, for a total transaction of C$65,377.76. Insiders have sold 643,076 shares of company stock valued at $6,954,397 over the last three months. 0.27% of the stock is owned by corporate insiders.

Kinross Gold Stock Performance

TSE K opened at C$12.19 on Friday. The company has a fifty day simple moving average of C$10.67 and a 200 day simple moving average of C$8.79. Kinross Gold has a 12-month low of C$5.91 and a 12-month high of C$12.21. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 36.08. The company has a market cap of C$14.99 billion, a P/E ratio of 24.88, a PEG ratio of -0.60 and a beta of 1.19.

Kinross Gold (TSE:K) (NYSE:KGC) last posted 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 net margin of 9.86% and a return on equity of 7.06%. The business had revenue of C$1.46 billion during the quarter, compared to the consensus estimate of C$1.19 billion. Sell-side analysts predict that Kinross Gold will post 0.7244147 earnings per share for the current fiscal year.

Kinross Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, May 30th. Kinross Gold’s dividend payout ratio is currently 32.65%.

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.