Kinross Gold (NYSE:KGC) Price Target Raised to $16.00

Kinross Gold (NYSE:KGC) (TSE:K) had its target price boosted by CIBC from $14.00 to $16.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an outperformer rating on the mining company’s stock.

Other equities research analysts also recently issued research reports about the company. National Bankshares restated an “outperform” rating on shares of Kinross Gold in a research report on Wednesday, April 23rd. Scotiabank upped their price target on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 8th. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Raymond James upped their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 4th. Finally, BMO Capital Markets began coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Buy” and an average price target of $13.90.

Kinross Gold Trading Up 1.7%

NYSE:KGC opened at $13.72 on Tuesday. The company has a market cap of $16.88 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.68 and a beta of 0.64. The stock’s fifty day moving average price is $13.39 and its two-hundred day moving average price is $11.40. Kinross Gold has a 1 year low of $7.20 and a 1 year high of $15.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The business’s quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 earnings per share. As a group, analysts expect that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.87%. Kinross Gold’s payout ratio is currently 12.24%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares during the last quarter. Norges Bank bought a new position in Kinross Gold in the fourth quarter valued at $280,697,000. Boston Partners increased its stake in Kinross Gold by 36.5% in the first quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock valued at $632,797,000 after acquiring an additional 12,705,061 shares during the last quarter. Man Group plc increased its stake in Kinross Gold by 174.2% in the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock valued at $85,685,000 after acquiring an additional 5,871,904 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Kinross Gold by 80.9% in the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after acquiring an additional 5,639,383 shares during the last quarter. Institutional investors own 63.69% 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.