Kinross Gold (NYSE:KGC) Price Target Increased to $12.00 by Analysts at Raymond James

Kinross Gold (NYSE:KGC) (TSE:K) had its target price hoisted by Raymond James from $10.50 to $12.00 in a research report sent to investors on Monday morning, The Fly reports. They currently have an outperform rating on the mining company’s stock.

A number of other equities research analysts have also commented on KGC. TD Securities upped their price objective on shares of Kinross Gold from $12.00 to $13.00 and gave the company a buy rating in a research note on Friday, September 18th. BofA Securities raised shares of Kinross Gold from a neutral rating to a buy rating and set a $11.25 price objective on the stock in a research note on Wednesday, August 5th. Bank of America raised shares of Kinross Gold from a neutral rating to a buy rating and set a $11.25 price objective on the stock in a research note on Wednesday, August 5th. They noted that the move was a valuation call. Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the company a sector outperform rating in a research note on Friday, September 18th. Finally, Royal Bank of Canada reiterated a buy rating and set a $12.00 target price on shares of Kinross Gold in a research report on Tuesday, August 11th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $10.42.

KGC opened at $8.84 on Monday. Kinross Gold has a fifty-two week low of $2.72 and a fifty-two week high of $10.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.76 and a quick ratio of 2.45. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 12.45 and a beta of 1.04. The company’s 50 day moving average price is $8.98 and its two-hundred day moving average price is $7.12.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. Kinross Gold had a net margin of 23.96% and a return on equity of 11.03%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $0.06 EPS. The company’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts predict that Kinross Gold will post 0.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 8th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.12 annualized dividend and a yield of 1.36%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FIL Ltd acquired a new position in Kinross Gold during the second quarter worth $119,441,000. Swiss National Bank raised its holdings in Kinross Gold by 1.2% during the second quarter. Swiss National Bank now owns 10,757,435 shares of the mining company’s stock worth $77,126,000 after buying an additional 128,300 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Kinross Gold by 40.3% during the second quarter. Bank of New York Mellon Corp now owns 8,467,496 shares of the mining company’s stock worth $61,134,000 after buying an additional 2,431,048 shares during the last quarter. Toronto Dominion Bank raised its holdings in Kinross Gold by 133.7% during the second quarter. Toronto Dominion Bank now owns 8,093,314 shares of the mining company’s stock worth $58,421,000 after buying an additional 4,630,191 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Kinross Gold by 15.8% during the second quarter. Two Sigma Advisers LP now owns 7,541,308 shares of the mining company’s stock worth $54,448,000 after buying an additional 1,031,407 shares during the last quarter. Hedge funds and other institutional investors own 53.20% 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 in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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