Kinross Gold (TSE:K) Upgraded by Cormark to “Buy”

Kinross Gold (TSE:K) (NYSE:KGC) was upgraded by analysts at Cormark from a “market perform” rating to a “buy” rating in a research report issued on Thursday, BayStreet.CA reports. The firm currently has a C$13.00 price objective on the stock, up from their prior price objective of C$11.00. Cormark’s price objective indicates a potential upside of 26.46% from the company’s previous close.

K has been the topic of a number of other reports. Stifel Nicolaus lifted their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a research report on Friday, April 19th. Eight Capital raised their price objective on shares of Kinross Gold from C$10.00 to C$11.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. National Bankshares lifted their price objective on Kinross Gold from C$13.50 to C$13.75 in a report on Thursday. Canaccord Genuity Group boosted their price target on Kinross Gold from C$11.00 to C$12.50 in a research note on Tuesday, April 23rd. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Kinross Gold presently has a consensus rating of “Buy” and an average target price of C$11.71.

Kinross Gold Price Performance

Shares of TSE K traded up C$0.53 during midday trading on Thursday, hitting C$10.28. 2,402,898 shares of the company’s stock were exchanged, compared to its average volume of 3,331,388. The business’s fifty day moving average price is C$8.32 and its two-hundred day moving average price is C$7.78. The company has a market cap of C$12.64 billion, a price-to-earnings ratio of 22.35, a PEG ratio of -0.60 and a beta of 1.21. The company has a current ratio of 2.63, a quick ratio of 1.11 and a debt-to-equity ratio of 36.54. Kinross Gold has a 12-month low of C$5.91 and a 12-month high of C$10.28.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings data on Wednesday, February 14th. The company reported C$0.15 earnings per share for the quarter, beating the consensus estimate of C$0.12 by C$0.03. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%. The firm had revenue of C$1.52 billion for the quarter, compared to analysts’ expectations of C$1.24 billion. As a group, research analysts forecast that Kinross Gold will post 0.4605193 EPS for the current fiscal year.

Insider Buying and Selling

In other Kinross Gold news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of C$4.93, for a total transaction of C$144,508.16. In related news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$4.93, for a total transaction of C$144,508.16. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total value of C$64,176.00. Insiders sold 143,621 shares of company stock worth $893,873 in the last 90 days. Insiders own 0.26% 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.