Analysts Set Kinross Gold Co. (TSE:K) Price Target at C$16.70

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have been given a consensus recommendation of “Buy” by the five ratings firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is C$16.70.

K has been the subject of several recent analyst reports. Eight Capital increased their price target on Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. National Bankshares raised their target price on shares of Kinross Gold from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus upped their price target on shares of Kinross Gold from C$14.50 to C$18.00 in a research note on Monday, October 21st. Finally, Canaccord Genuity Group lowered their price objective on shares of Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating on the stock in a research note on Friday, September 13th.

Insider Buying and Selling

In other news, Senior Officer Geoffrey Peters Gold sold 100,000 shares of Kinross Gold stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of C$14.22, for a total value of C$1,421,710.00. Also, Director Jonathan Paul Rollinson sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of C$14.01, for a total transaction of C$2,802,000.00. Over the last ninety days, insiders sold 1,608,122 shares of company stock worth $22,536,883. Corporate insiders own 0.26% of the company’s stock.

Kinross Gold Stock Performance

Shares of K stock opened at C$13.17 on Friday. Kinross Gold has a 12-month low of C$6.46 and a 12-month high of C$14.97. The company has a debt-to-equity ratio of 31.89, a current ratio of 1.27 and a quick ratio of 1.11. The firm has a market capitalization of C$16.20 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. The business has a 50 day simple moving average of C$13.94 and a 200 day simple moving average of C$12.72.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were issued a $0.041 dividend. The ex-dividend date of this dividend was Thursday, November 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.25%. Kinross Gold’s payout ratio is currently 29.63%.

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.