Kinross Gold (NYSE:KGC) Price Target Raised to $15.00

Kinross Gold (NYSE:KGC) (TSE:K) had its price target lifted by Raymond James from $12.00 to $15.00 in a research report sent to investors on Friday,Benzinga reports. Raymond James currently has a market perform rating on the mining company’s stock.

Several other equities research analysts have also recently weighed in on KGC. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 22nd. CIBC increased their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Stifel Canada raised Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.30.

Kinross Gold Stock Down 6.7 %

Shares of NYSE:KGC opened at $11.84 on Friday. Kinross Gold has a 12-month low of $6.20 and a 12-month high of $12.90. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average price is $11.60 and its 200-day moving average price is $10.50. The stock has a market capitalization of $14.56 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. On average, equities analysts anticipate that Kinross Gold will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s payout ratio is currently 15.58%.

Institutional Trading of Kinross Gold

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Kinross Gold by 62.2% in the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after purchasing an additional 44,610,091 shares during the period. Vanguard Group Inc. raised its holdings in Kinross Gold by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock worth $439,881,000 after purchasing an additional 763,248 shares in the last quarter. Renaissance Technologies LLC lifted its position in Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock valued at $304,633,000 after buying an additional 3,224,455 shares during the period. Norges Bank bought a new stake in shares of Kinross Gold during the 4th quarter valued at $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Kinross Gold by 10.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock valued at $136,028,000 after buying an additional 1,398,225 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

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.