Kinross Gold Co. (TSE:K) Receives C$13.33 Consensus PT from Analysts

Kinross Gold Co. (TSE:K) (NYSE:KGC) has been given an average rating of “Buy” by the six brokerages that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$13.33.

A number of equities research analysts have recently weighed in on K shares. Cormark raised Kinross Gold from a “market perform” rating to a “buy” rating and boosted their target price for the company from C$11.00 to C$13.00 in a research note on Thursday, May 9th. Eight Capital increased their price objective on Kinross Gold from C$11.00 to C$15.00 in a research note on Thursday, July 11th. National Bankshares lifted their target price on shares of Kinross Gold from C$13.75 to C$16.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Finally, Canaccord Genuity Group increased their price target on shares of Kinross Gold from C$13.50 to C$16.00 in a research report on Tuesday, July 23rd.

Insider Activity

In other news, Senior Officer William D. Dunford sold 6,076 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of C$10.76, for a total value of C$65,377.76. In related news, Senior Officer William D. Dunford sold 6,076 shares of Kinross Gold stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of C$10.76, for a total value of C$65,377.76. Also, Senior Officer Claude J.S. Schimper sold 4,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total value of C$55,395.00. Corporate insiders own 0.27% of the company’s stock.

Kinross Gold Stock Performance

Kinross Gold stock opened at C$12.18 on Friday. Kinross Gold has a fifty-two week low of C$5.91 and a fifty-two week high of C$13.08. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27. The stock has a market cap of C$14.98 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of -0.60 and a beta of 1.23. The firm’s fifty day moving average price is C$11.94 and its 200-day moving average price is C$9.96.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.18 by C$0.01. The firm had revenue of C$1.67 billion for the quarter, compared to analyst estimates of C$1.39 billion. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. On average, equities research analysts expect that Kinross Gold will post 0.8104994 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 22nd will be given a dividend of $0.041 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Thursday, August 22nd. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio (DPR) is 30.91%.

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.