Canaccord Genuity Group Trims Kinross Gold (TSE:K) Target Price to C$16.50

Kinross Gold (TSE:K) (NYSE:KGC) had its price target reduced by Canaccord Genuity Group from C$17.00 to C$16.50 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the company. National Bankshares lifted their target price on Kinross Gold from C$13.75 to C$16.00 and gave the company an outperform rating in a research note on Wednesday, July 17th. Eight Capital upped their price target on Kinross Gold from C$15.00 to C$16.00 and gave the company a buy rating in a report on Wednesday, September 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and an average price target of C$14.60.

Kinross Gold Stock Down 3.7 %

Shares of Kinross Gold stock opened at C$12.86 on Friday. Kinross Gold has a twelve month low of C$5.91 and a twelve month high of C$13.70. The stock has a market capitalization of C$15.82 billion, a price-to-earnings ratio of 23.81, a PEG ratio of -0.60 and a beta of 1.24. The company has a current ratio of 1.27, a quick ratio of 1.11 and a debt-to-equity ratio of 31.89. The business’s 50 day simple moving average is C$12.16 and its 200-day simple moving average is C$10.36.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.19 earnings per share 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 the consensus estimate of C$1.39 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 7.81%. Equities research analysts forecast that Kinross Gold will post 0.9896296 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.041 per share. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, August 22nd. This represents a $0.16 dividend on an annualized basis and a yield of 1.28%. Kinross Gold’s dividend payout ratio (DPR) is presently 29.63%.

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, Senior Officer William D. Dunford sold 6,076 shares of Kinross Gold 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 other Kinross Gold news, Senior Officer William D. Dunford sold 6,076 shares of the business’s 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.

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.