Kinross Gold (NYSE:KGC) Price Target Raised to $16.00

Kinross Gold (NYSE:KGC) (TSE:K) had its price target increased by investment analysts at CIBC from $14.00 to $16.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperformer” rating on the mining company’s stock. CIBC’s price target suggests a potential upside of 18.69% from the stock’s previous close.

KGC has been the subject of a number of other research reports. National Bankshares restated an “outperform” rating on shares of Kinross Gold in a research report on Wednesday, April 23rd. BMO Capital Markets initiated coverage on shares of Kinross Gold in a research report on Wednesday, April 16th. They issued an “outperform” rating for the company. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Scotiabank increased their target price on Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 8th. Finally, National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Kinross Gold has a consensus rating of “Buy” and a consensus target price of $13.90.

Kinross Gold Stock Performance

KGC stock opened at $13.48 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. Kinross Gold has a twelve month low of $7.20 and a twelve month high of $15.96. The business’s fifty day moving average is $13.32 and its 200-day moving average is $11.38. The company has a market cap of $16.59 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. Equities research analysts forecast that Kinross Gold will post 0.81 EPS for the current year.

Hedge Funds Weigh In On Kinross Gold

A number of large investors have recently modified their holdings of the business. Capital Investment Advisors LLC boosted its stake in shares of Kinross Gold by 3.1% during the 1st quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company’s stock worth $351,000 after buying an additional 850 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Kinross Gold by 2.2% during the 4th quarter. Signaturefd LLC now owns 41,072 shares of the mining company’s stock worth $381,000 after buying an additional 865 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after buying an additional 1,002 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of Kinross Gold by 3.0% during the 1st quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company’s stock worth $438,000 after buying an additional 1,013 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Kinross Gold by 2.4% during the 4th quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company’s stock worth $423,000 after buying an additional 1,079 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.