Brokerages Set Kinross Gold Co. (TSE:K) Target Price at C$13.33

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

A number of research firms recently weighed in on K. Cormark raised shares of Kinross Gold from a “market perform” rating to a “buy” rating and boosted their price target for the stock from C$11.00 to C$13.00 in a research note on Thursday, May 9th. Stifel Nicolaus boosted their price target on shares of Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a research note on Friday, April 19th. Canaccord Genuity Group upped their target price on shares of Kinross Gold from C$13.50 to C$16.00 in a research note on Tuesday, July 23rd. Eight Capital upped their target price on shares of Kinross Gold from C$11.00 to C$15.00 in a research note on Thursday, July 11th. Finally, National Bankshares upped their target price on shares of 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.

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 the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of C$10.76, for a total transaction of C$65,377.76. Also, Senior Officer Claude J.S. Schimper sold 7,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$11.09, for a total transaction of C$77,630.00. Insiders sold 643,076 shares of company stock worth $6,954,397 over the last quarter. 0.27% of the stock is currently owned by company insiders.

Kinross Gold Trading Down 2.6 %

K opened at C$11.82 on Wednesday. The company has a debt-to-equity ratio of 36.08, a current ratio of 1.15 and a quick ratio of 1.11. The company has a market cap of C$14.54 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of -0.60 and a beta of 1.19. The firm has a 50 day simple moving average of C$11.39 and a 200 day simple moving average of C$9.40. Kinross Gold has a fifty-two week low of C$5.91 and a fifty-two week high of C$13.08.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings results on Tuesday, May 7th. The company reported C$0.14 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.08 by C$0.06. The business had revenue of C$1.46 billion during the quarter, compared to the consensus estimate of C$1.19 billion. Kinross Gold had a net margin of 9.86% and a return on equity of 7.06%. On average, sell-side analysts anticipate that Kinross Gold will post 0.7244147 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd will be issued a $0.041 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, August 22nd. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio is 32.65%.

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.