Kinross Gold (NYSE:KGC) Price Target Raised to $30.00

Kinross Gold (NYSE:KGC) (TSE:K) had its price target lifted by TD Securities from $22.00 to $30.00 in a research report report published on Wednesday,BayStreet.CA reports. The firm currently has a buy rating on the mining company’s stock.

Other research analysts also recently issued reports about the company. UBS Group upped their price target on Kinross Gold from $20.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Jefferies Financial Group raised Kinross Gold from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. Canaccord Genuity Group increased their price objective on Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Weiss Ratings reissued a “buy (a-)” rating on shares of Kinross Gold in a research note on Wednesday. Finally, Raymond James Financial raised Kinross Gold to a “hold” rating and set a $15.00 price objective for the company in a research note on Monday, June 30th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $25.19.

Kinross Gold Stock Down 0.2%

KGC stock opened at $24.24 on Wednesday. The stock’s 50 day simple moving average is $21.81 and its 200 day simple moving average is $17.17. Kinross Gold has a fifty-two week low of $8.99 and a fifty-two week high of $25.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The company has a market cap of $29.38 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 0.78 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business earned $0.14 EPS. The firm’s revenue for the quarter was up 41.7% on a year-over-year basis. On average, research analysts expect that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is currently 9.68%.

Institutional Investors Weigh In On Kinross Gold

Several large investors have recently added to or reduced their stakes in the business. Evergreen Capital Management LLC boosted its stake in Kinross Gold by 1.1% during the second quarter. Evergreen Capital Management LLC now owns 56,135 shares of the mining company’s stock valued at $877,000 after buying an additional 593 shares during the period. Armstrong Advisory Group Inc. raised its position in Kinross Gold by 95.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after purchasing an additional 717 shares in the last quarter. Elevation Point Wealth Partners LLC raised its position in Kinross Gold by 1.4% during the second quarter. Elevation Point Wealth Partners LLC now owns 56,907 shares of the mining company’s stock valued at $889,000 after purchasing an additional 783 shares in the last quarter. IFP Advisors Inc raised its position in Kinross Gold by 19.1% during the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after purchasing an additional 835 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its position in Kinross Gold by 3.1% during the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company’s stock valued at $351,000 after purchasing an additional 850 shares in 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.