Kinross Gold (TSE:K) Price Target Raised to C$12.50

Kinross Gold (TSE:K) (NYSE:KGC) had its target price increased by Canaccord Genuity Group from C$11.00 to C$12.50 in a report issued on Tuesday, BayStreet.CA reports.

K has been the subject of a number of other research reports. National Bank Financial reiterated an outperform overweight rating on shares of Kinross Gold in a research report on Monday, April 8th. Stifel Nicolaus increased their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the company a buy rating in a research report on Friday, April 19th. Finally, Eight Capital increased their price objective on Kinross Gold from C$10.00 to C$11.00 and gave the company a buy rating in a research report on Monday. Five analysts have rated the stock with a buy rating, According to MarketBeat, Kinross Gold presently has a consensus rating of Buy and a consensus target price of C$10.70.

Kinross Gold Stock Performance

Shares of TSE K opened at C$8.97 on Tuesday. The stock has a fifty day moving average price of C$7.78 and a two-hundred day moving average price of C$7.62. The company has a debt-to-equity ratio of 36.54, a quick ratio of 1.11 and a current ratio of 2.63. The firm has a market cap of C$11.03 billion, a P/E ratio of 19.50, a PEG ratio of -0.60 and a beta of 1.21. Kinross Gold has a 1 year low of C$5.91 and a 1 year high of C$9.37.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data on Wednesday, February 14th. The company reported C$0.15 EPS for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.03. Kinross Gold had a return on equity of 6.88% and a net margin of 9.82%. The company had revenue of C$1.52 billion during the quarter, compared to the consensus estimate of C$1.24 billion. Research analysts forecast that Kinross Gold will post 0.4605193 EPS for the current fiscal year.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.78%. Kinross Gold’s payout ratio is currently 34.78%.

Insider Activity

In other news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total value of C$64,176.00. In related news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total transaction of C$64,176.00. Also, Senior Officer Nathan M. Longenecker sold 29,312 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$4.93, for a total value of C$144,508.16. Insiders sold 143,621 shares of company stock worth $893,873 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

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.