CIBC Issues Positive Forecast for Kinross Gold (NYSE:KGC) Stock Price

Kinross Gold (NYSE:KGC) (TSE:K) had its target price increased by CIBC from $13.00 to $14.00 in a research note published on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the mining company’s stock.

Separately, StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $11.63.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $11.41 on Thursday. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.67 and a beta of 1.24. Kinross Gold has a 52 week low of $4.75 and a 52 week high of $12.28. The company’s 50-day moving average price is $10.33 and its 200 day moving average price is $9.80. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. As a group, research analysts forecast that Kinross Gold will post 0.73 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $0.03 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.05%. Kinross Gold’s dividend payout ratio is presently 19.67%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KGC. Jones Financial Companies Lllp raised its holdings in Kinross Gold by 109.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after buying an additional 1,412 shares during the period. Mark Sheptoff Financial Planning LLC raised its stake in shares of Kinross Gold by 30.4% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock valued at $40,000 after purchasing an additional 1,002 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $42,000. Global Retirement Partners LLC raised its stake in shares of Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after purchasing an additional 4,788 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock valued at $67,000 after purchasing an additional 5,140 shares during the period. Hedge funds and other 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.