Kinross Gold (NYSE:KGC) Price Target Raised to $15.00

Kinross Gold (NYSE:KGC) (TSE:K) had its price objective hoisted by Raymond James from $12.00 to $15.00 in a research report report published on Friday morning,Benzinga reports. They currently have a market perform rating on the mining company’s stock.

Several other equities analysts have also recently issued reports on KGC. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. CIBC boosted their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 22nd. Finally, National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $12.30.

Kinross Gold Price Performance

KGC opened at $11.84 on Friday. The firm has a market cap of $14.56 billion, a PE ratio of 15.37, a P/E/G ratio of 0.68 and a beta of 1.12. The stock has a 50-day moving average price of $11.60 and a 200-day moving average price of $10.50. Kinross Gold has a 1 year low of $6.20 and a 1 year high of $12.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its 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 12.65% and a net margin of 18.43%. Sell-side analysts predict that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its position in shares of Kinross Gold by 109.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its holdings in 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 buying an additional 1,002 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Kinross Gold in the fourth quarter worth approximately $42,000. Global Retirement Partners LLC raised its position in Kinross Gold by 747.0% in the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after acquiring an additional 4,788 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in shares of Kinross Gold by 246.3% during the 4th quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after acquiring an additional 5,140 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

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.