“With the overhang removed from an impending writedown and clarity achieved on the choice for a 30ktpd mill option at Tasiast we are upgrading our target multiple for KGC to 1.3x P/NAV (from 1.1x), in line with the senior average of 1.3x. KGC also provided clarity on production, costs and capex for 2013 and thus our OpCFa multiple has increased to 18x (from 13x) in-line with KGC’s implied reserve life of ~18 years. Our DCF and CF declined by 30% and 20%. … Negative news was expected and the stock has traded off 16% over the past two months likely on the impending negative newsflow. After modelling the results, we believe negative guidance has been adequately priced into the stock.,” the firm’s analyst commented.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital reiterated an outperform rating on shares of Kinross Gold Corp in a research note to investors on Wednesday, February 13th. They now have a $14.00 price target on the stock. Separately, analysts at Citigroup cut their price target on shares of Kinross Gold Corp from $12.00 to $10.00 in a research note to investors on Wednesday, February 13th. They now have a buy rating on the stock. Finally, analysts at Barclays Capital cut their price target on shares of Kinross Gold Corp from $13.00 to $11.00 in a research note to investors on Monday, February 4th. They now have an equal weight rating on the stock.
Seventeen analysts have rated the stock with a buy rating, two have issued an overweight rating, six have assigned a hold rating, and one has issued a sell rating to the company’s stock. The company presently has an average rating of overweight and a consensus target price of $12.10.
Shares of Kinross Gold Corp traded down 0.50% during mid-day trading on Friday, hitting $7.95. Kinross Gold Corp has a one year low of $7.11 and a one year high of $11.68. The stock’s 50-day moving average is currently $8.88. The company’s market cap is $9.065 billion.
The company also recently declared a semiannual dividend, which is scheduled for Thursday, March 28th. Investors of record on Thursday, March 21st will be given a dividend of $0.08 per share. This represents a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, March 19th.
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