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 boosted by Canaccord Genuity Group from C$13.50 to C$16.00 in a report released on Tuesday, BayStreet.CA reports.

K has been the subject of a number of other reports. Eight Capital boosted their target price on shares of Kinross Gold from C$11.00 to C$15.00 in a research note on Thursday, July 11th. Stifel Nicolaus upped their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the stock a buy rating in a research note on Friday, April 19th. Cormark upgraded Kinross Gold from a market perform rating to a buy rating and upped their price objective for the stock from C$11.00 to C$13.00 in a research note on Thursday, May 9th. National Bankshares upped their price objective on Kinross Gold from C$13.75 to C$16.00 and gave the stock an outperform rating in a research note on Wednesday, July 17th. Finally, National Bank Financial restated an outperform overweight rating on shares of Kinross Gold in a research note on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of C$13.33.

Kinross Gold Stock Performance

K stock opened at C$11.92 on Tuesday. The stock has a market capitalization of C$14.66 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of -0.60 and a beta of 1.19. 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 stock’s 50 day simple moving average is C$11.22 and its 200 day simple moving average is C$9.14. Kinross Gold has a 12-month low of C$5.91 and a 12-month high of C$12.86.

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

Kinross Gold Cuts Dividend

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

Insiders Place Their Bets

In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 7,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of C$11.09, for a total transaction of C$77,630.00. In other Kinross Gold news, Senior Officer William D. Dunford sold 6,076 shares of the stock in a transaction dated Wednesday, June 26th. The shares were 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 the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of C$11.09, for a total transaction of C$77,630.00. In the last quarter, insiders sold 643,076 shares of company stock worth $6,954,397. Corporate insiders own 0.27% 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.