Scotiabank Raises Kinross Gold (NYSE:KGC) Price Target to $11.00

Kinross Gold (NYSE:KGC) (TSE:K) had its price objective boosted by Scotiabank from $9.50 to $11.00 in a research note released on Monday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the mining company’s stock.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group increased their price objective on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a hold rating in a research note on Friday, July 12th. CIBC raised their price target on Kinross Gold from $8.15 to $12.00 and gave the company an outperformer rating in a report on Wednesday, July 10th. Cormark raised Kinross Gold from a hold rating to a moderate buy rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets lifted their target price on Kinross Gold from $10.00 to $11.50 and gave the company an outperform rating in a research note on Tuesday, May 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $9.33.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $9.32 on Monday. The stock has a market cap of $11.45 billion, a P/E ratio of 25.88, a P/E/G ratio of 0.54 and a beta of 1.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. The stock’s fifty day moving average is $8.54 and its 200 day moving average is $7.13. Kinross Gold has a one year low of $4.32 and a one year high of $9.58.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. Sell-side analysts anticipate that Kinross Gold will post 0.57 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be paid a $0.03 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.29%. Kinross Gold’s payout ratio is currently 33.33%.

Institutional Trading of Kinross Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlas Capital Advisors LLC purchased a new position in shares of Kinross Gold during the second quarter valued at approximately $40,000. Headlands Technologies LLC purchased a new position in Kinross Gold during the 4th quarter valued at $44,000. Fifth Third Bancorp grew its position in Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after acquiring an additional 9,375 shares during the last quarter. Advisor Resource Council bought a new position in Kinross Gold in the 1st quarter valued at $60,000. Finally, Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold during the fourth quarter worth $63,000. 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.