Kinross Gold (NYSE:KGC) PT Raised to $11.50 at BMO Capital Markets

Kinross Gold (NYSE:KGC) (TSE:K) had its price objective boosted by BMO Capital Markets from $10.00 to $11.50 in a report published on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the mining company’s stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group increased their price objective on Kinross Gold from $5.00 to $6.00 and gave the company a hold rating in a research report on Monday, April 22nd. Cormark upgraded Kinross Gold from a hold rating to a moderate buy rating in a research report on Thursday, May 9th. StockNews.com upgraded Kinross Gold from a hold rating to a buy rating in a research report on Tuesday, April 2nd. TheStreet downgraded Kinross Gold from a b rating to a c+ rating in a research note on Friday, February 16th. Finally, CIBC increased their price target on Kinross Gold from $7.00 to $8.15 and gave the company an outperform rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $7.59.

Kinross Gold Stock Down 0.6 %

NYSE KGC opened at $7.88 on Tuesday. The firm has a market cap of $9.68 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 0.52 and a beta of 1.14. Kinross Gold has a one year low of $4.32 and a one year high of $8.23. The stock’s 50 day simple moving average is $6.65 and its 200 day simple moving average is $5.93. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45.

Kinross Gold (NYSE:KGC) (TSE:K) last announced 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 firm 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 quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. As a group, sell-side analysts forecast that Kinross Gold will post 0.49 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KGC. Canoe Financial LP lifted its holdings in Kinross Gold by 4.2% during the third quarter. Canoe Financial LP now owns 91,847 shares of the mining company’s stock worth $419,000 after acquiring an additional 3,706 shares in the last quarter. Syon Capital LLC bought a new stake in shares of Kinross Gold in the third quarter valued at about $262,000. Victory Capital Management Inc. lifted its holdings in shares of Kinross Gold by 13.6% in the third quarter. Victory Capital Management Inc. now owns 1,613,961 shares of the mining company’s stock valued at $7,360,000 after purchasing an additional 192,805 shares in the last quarter. Euro Pacific Asset Management LLC lifted its holdings in shares of Kinross Gold by 7.7% in the third quarter. Euro Pacific Asset Management LLC now owns 1,744,285 shares of the mining company’s stock valued at $7,975,000 after purchasing an additional 125,302 shares in the last quarter. Finally, Privium Fund Management UK Ltd bought a new stake in shares of Kinross Gold in the third quarter valued at about $519,000. 63.69% of the stock is currently owned by 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.