Kinross Gold (TSE:K) Price Target Increased to C$12.50 by Analysts at Canaccord Genuity Group

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

A number of other equities research analysts have also recently issued reports on K. National Bank Financial reissued an outperform overweight rating on shares of Kinross Gold in a research note on Monday, April 8th. Eight Capital lifted their price target on shares of Kinross Gold from C$10.00 to C$11.00 and gave the company a buy rating in a research note on Monday. Finally, Stifel Nicolaus lifted their target price on shares of 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of C$10.70.

Kinross Gold Price Performance

Kinross Gold stock opened at C$9.20 on Tuesday. The company’s fifty day moving average price is C$7.87 and its 200 day moving average price is C$7.64. Kinross Gold has a 1 year low of C$5.91 and a 1 year high of C$9.37. The stock has a market capitalization of C$11.32 billion, a P/E ratio of 20.00, a P/E/G ratio of -0.60 and a beta of 1.21. The company has a debt-to-equity ratio of 36.54, a quick ratio of 1.11 and a current ratio of 2.63.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings results on Wednesday, February 14th. The company reported C$0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.03. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%. The firm had revenue of C$1.52 billion for the quarter, compared to analysts’ expectations of C$1.24 billion. As a group, equities research analysts anticipate that Kinross Gold will post 0.4605193 earnings per share for the current fiscal year.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 annualized dividend and a yield of 1.74%. Kinross Gold’s dividend payout ratio (DPR) is presently 34.78%.

Insider Activity

In other news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. In other news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$7.64, for a total transaction of C$64,176.00. In the last quarter, insiders have sold 143,621 shares of company stock valued at $893,873. 0.26% of the stock is currently owned by insiders.

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.