Kinross Gold (NYSE:KGC) PT Set at $39.00 by RBC Dominion Securities

Kinross Gold (NYSE:KGC) (TSE:K) received a $39.00 price target from equities researchers at RBC Dominion Securities in a research note issued on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the mining company’s stock. RBC Dominion Securities‘s price target would indicate a potential upside of 72.42% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada lowered their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Scotia cut their price target on Kinross Gold from $41.00 to $39.00 and set a “sector outperform” rating for the company in a report on Thursday, September 24th. TD Securities reduced their price target on Kinross Gold from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. UBS Group decreased their price objective on Kinross Gold from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Finally, Wall Street Zen lowered Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.30.

Kinross Gold Stock Performance

NYSE:KGC traded down $1.20 during trading on Thursday, reaching $22.62. The company’s stock had a trading volume of 7,747,065 shares, compared to its average volume of 9,198,181. The firm has a market cap of $26.79 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The firm has a 50 day moving average of $27.37 and a 200-day moving average of $27.52. Kinross Gold has a 12 month low of $21.90 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm earned $0.44 EPS. The company’s revenue was up 29.5% compared to the same quarter last year. Research analysts expect that Kinross Gold will post 2.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently made changes to their positions in the business. Man Group plc bought a new position in shares of Kinross Gold during the second quarter valued at about $298,152,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Kinross Gold in the 2nd quarter valued at about $264,652,000. Legal & General Group Plc bought a new stake in shares of Kinross Gold in the 2nd quarter valued at about $244,762,000. The Manufacturers Life Insurance Company purchased a new stake in Kinross Gold during the 2nd quarter valued at about $222,974,000. Finally, Deutsche Bank AG purchased a new stake in Kinross Gold during the 2nd quarter valued at about $217,800,000. Institutional investors own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.

Kinross’s producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.

Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.