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

Kinross Gold Co. (TSE:K) (NYSE:KGC) has been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$13.33.

K has been the topic of a number of recent research reports. Stifel Nicolaus increased their price target 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. Eight Capital raised their price objective on Kinross Gold from C$11.00 to C$15.00 in a research report on Thursday, July 11th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Canaccord Genuity Group raised their price objective on Kinross Gold from C$13.50 to C$16.00 in a research report on Tuesday, July 23rd. Finally, Cormark raised Kinross Gold from a “market perform” rating to a “buy” rating and raised their price objective for the company from C$11.00 to C$13.00 in a research report on Thursday, May 9th.

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, Senior Officer William D. Dunford sold 6,076 shares of the firm’s 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 value of C$65,377.76. In other 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 stock was sold at an average price of C$10.39, for a total value 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 value of C$65,377.76. Over the last three months, insiders have 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

K stock opened at C$12.14 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 36.08. The business’s fifty day simple moving average is C$11.36 and its two-hundred day simple moving average is C$9.33. Kinross Gold has a twelve month low of C$5.91 and a twelve month high of C$13.08. The firm has a market cap of C$14.93 billion, a price-to-earnings ratio of 24.78, a PEG ratio of -0.60 and a beta of 1.19.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Tuesday, May 7th. The company reported C$0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of C$1.19 billion. Analysts predict that Kinross Gold will post 0.7244147 earnings per share for the current year.

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be issued a $0.041 dividend. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 1.35%. The ex-dividend date is Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) 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.