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

Kinross Gold (NYSE:KGC) (TSE:K) had its price objective boosted by investment analysts at CIBC from $13.00 to $14.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the mining company’s stock. CIBC’s target price would indicate a potential upside of 21.55% from the stock’s current price.

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

Kinross Gold Stock Performance

KGC stock traded down $0.63 on Thursday, reaching $11.52. 22,529,942 shares of the company were exchanged, compared to its average volume of 21,716,869. Kinross Gold has a 12 month low of $4.75 and a 12 month high of $12.28. The stock’s fifty day moving average price is $10.33 and its 200 day moving average price is $9.80. The firm has a market capitalization of $14.16 billion, a PE ratio of 18.80, a PEG ratio of 0.67 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last announced 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 net margin of 15.23% and a return on equity of 11.49%. On average, research analysts anticipate that Kinross Gold will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Kinross Gold

Large investors have recently made changes to their positions in the company. Creative Planning lifted its position in Kinross Gold by 12.0% during the 3rd quarter. Creative Planning now owns 71,945 shares of the mining company’s stock worth $673,000 after buying an additional 7,689 shares in the last quarter. One Wealth Advisors LLC acquired a new position in Kinross Gold during the 3rd quarter worth about $127,000. Blue Trust Inc. lifted its position in Kinross Gold by 88.5% during the 3rd quarter. Blue Trust Inc. now owns 21,351 shares of the mining company’s stock worth $200,000 after buying an additional 10,024 shares in the last quarter. Raymond James & Associates lifted its position in Kinross Gold by 25.7% during the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after buying an additional 69,520 shares in the last quarter. Finally, OLD National Bancorp IN lifted its position in Kinross Gold by 43.7% during the 3rd quarter. OLD National Bancorp IN now owns 16,433 shares of the mining company’s stock worth $154,000 after buying an additional 4,999 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

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.