BMO Capital Markets Raises Kinross Gold (NYSE:KGC) Price Target to $11.50

Kinross Gold (NYSE:KGC) (TSE:K) had its price target hoisted by BMO Capital Markets from $10.00 to $11.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the mining company’s stock.

KGC has been the topic of a number of other research reports. Scotiabank increased their price objective on Kinross Gold from $7.00 to $8.00 and gave the company a sector outperform rating in a research note on Thursday, May 9th. TheStreet lowered Kinross Gold from a b rating to a c+ rating in a research note on Friday, February 16th. National Bank Financial reissued an outperform overweight rating on shares of Kinross Gold in a research note on Monday, April 8th. CIBC raised their price target on Kinross Gold from $7.00 to $8.15 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Finally, StockNews.com raised Kinross Gold from a hold rating to a buy rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $7.59.

Kinross Gold Stock Down 0.6 %

KGC opened at $7.88 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. The firm has a market cap of $9.68 billion, a P/E ratio of 21.89, a PEG ratio of 0.52 and a beta of 1.14. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $8.23. The business’s fifty day simple moving average is $6.65 and its 200 day simple moving average is $5.93.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. As a group, equities research analysts anticipate that Kinross Gold will post 0.49 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.52%. Kinross Gold’s payout ratio is currently 33.33%.

Institutional Investors Weigh In On Kinross Gold

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Kinross Gold by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock valued at $202,484,000 after purchasing an additional 463,035 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Kinross Gold by 23.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 947,037 shares of the mining company’s stock valued at $5,707,000 after purchasing an additional 179,933 shares in the last quarter. Wellington Management Group LLP grew its stake in Kinross Gold by 975.2% during the 3rd quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock valued at $2,543,000 after purchasing an additional 503,799 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Kinross Gold by 4.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,846,537 shares of the mining company’s stock valued at $17,285,000 after purchasing an additional 124,055 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Kinross Gold by 13.3% during the 4th quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock valued at $64,151,000 after purchasing an additional 1,239,966 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

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.