Kinross Gold (NYSE:KGC) Price Target Raised to $13.30

Kinross Gold (NYSE:KGC) (TSE:K) had its price target increased by stock analysts at Raymond James from $10.50 to $13.30 in a report released on Wednesday, PriceTargets.com reports. The brokerage presently has an “outperform” rating on the mining company’s stock. Raymond James’ price objective suggests a potential upside of 67.09% from the stock’s current price. Raymond James also issued estimates for Kinross Gold’s Q2 2021 earnings at $0.16 EPS, Q3 2021 earnings at $0.17 EPS, Q4 2021 earnings at $0.16 EPS, FY2021 earnings at $0.64 EPS, Q1 2022 earnings at $0.19 EPS, Q2 2022 earnings at $0.20 EPS, Q3 2022 earnings at $0.26 EPS, Q4 2022 earnings at $0.26 EPS and FY2022 earnings at $0.89 EPS.

A number of other equities analysts have also recently weighed in on KGC. JPMorgan Chase & Co. lowered their price objective on shares of Kinross Gold from $11.00 to $9.00 in a research report on Tuesday, April 27th. TheStreet cut shares of Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, May 28th. Barclays increased their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, February 11th. National Bank Financial reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Friday, April 23rd. Finally, TD Securities reduced their target price on shares of Kinross Gold from $14.00 to $13.50 and set a “buy” rating on the stock in a report on Friday, February 12th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $11.82.

Kinross Gold stock opened at $7.96 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.14 and a current ratio of 2.16. The stock has a market cap of $10.04 billion, a PE ratio of 7.37 and a beta of 0.86. The company has a 50 day moving average price of $7.63. Kinross Gold has a 1-year low of $5.88 and a 1-year high of $10.31.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Monday, May 10th. The mining company reported $0.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.15. The firm had revenue of $986.50 million during the quarter, compared to analysts’ expectations of $1.09 billion. Kinross Gold had a net margin of 31.69% and a return on equity of 16.56%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. On average, research analysts forecast that Kinross Gold will post 0.61 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. MD Financial Management Inc. acquired a new stake in shares of Kinross Gold in the 1st quarter valued at $31,000. Evoke Wealth LLC raised its holdings in shares of Kinross Gold by 187.5% in the 1st quarter. Evoke Wealth LLC now owns 4,830 shares of the mining company’s stock valued at $32,000 after purchasing an additional 3,150 shares in the last quarter. Asset Dedication LLC acquired a new stake in shares of Kinross Gold in the 1st quarter valued at $48,000. Veritable L.P. acquired a new stake in shares of Kinross Gold in the 1st quarter valued at $67,000. Finally, United Capital Financial Advisers LLC acquired a new stake in shares of Kinross Gold in the 4th quarter valued at $74,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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