Kinross Gold (NYSE:KGC) Price Target Increased to $8.15 by Analysts at CIBC

Kinross Gold (NYSE:KGCFree Report) (TSE:K) had its target price lifted by CIBC from $7.00 to $8.15 in a research report sent to investors on Wednesday, BayStreet.CA reports. CIBC currently has an outperform rating on the mining company’s stock.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Kinross Gold from a strong-buy rating to a buy rating in a report on Monday, November 6th. TheStreet raised shares of Kinross Gold from a c+ rating to a b- rating in a research note on Thursday, November 30th. Raymond James cut their target price on shares of Kinross Gold from $6.00 to $5.50 and set a market perform rating on the stock in a research note on Tuesday, November 28th. National Bank Financial reissued an outperform overweight rating on shares of Kinross Gold in a research note on Wednesday, January 3rd. Finally, TD Securities raised their target price on shares of Kinross Gold from $6.50 to $7.00 and gave the company a buy rating in a research note on Monday, November 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Kinross Gold has a consensus rating of Hold and a consensus price target of $6.00.

View Our Latest Research Report on Kinross Gold

Kinross Gold Stock Down 0.8 %

Shares of KGC opened at $5.39 on Wednesday. The firm has a market cap of $6.61 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 0.92 and a beta of 1.16. The company’s fifty day moving average is $5.77 and its two-hundred day moving average is $5.30. Kinross Gold has a fifty-two week low of $3.40 and a fifty-two week high of $6.34. The company has a quick ratio of 1.06, a current ratio of 2.70 and a debt-to-equity ratio of 0.39.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last announced its quarterly earnings results on Wednesday, November 8th. The mining company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $964.04 million. Kinross Gold had a net margin of 5.83% and a return on equity of 8.43%. Analysts forecast that Kinross Gold will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in Kinross Gold by 13.6% during the 2nd quarter. US Bancorp DE now owns 16,514 shares of the mining company’s stock worth $79,000 after buying an additional 1,976 shares during the period. Ballentine Partners LLC grew its holdings in Kinross Gold by 14.0% during the 2nd quarter. Ballentine Partners LLC now owns 17,417 shares of the mining company’s stock worth $83,000 after acquiring an additional 2,136 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in Kinross Gold by 6.0% during the 4th quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company’s stock worth $225,000 after acquiring an additional 2,157 shares in the last quarter. Townsquare Capital LLC grew its holdings in Kinross Gold by 19.1% during the 3rd quarter. Townsquare Capital LLC now owns 14,258 shares of the mining company’s stock worth $65,000 after acquiring an additional 2,290 shares in the last quarter. Finally, Advisor Partners II LLC grew its holdings in Kinross Gold by 3.1% during the 1st quarter. Advisor Partners II LLC now owns 76,554 shares of the mining company’s stock worth $361,000 after acquiring an additional 2,305 shares in the last quarter. Hedge funds and other institutional investors own 49.80% of the company’s stock.

About Kinross Gold

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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. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

Further Reading

Analyst Recommendations for Kinross Gold (NYSE:KGC)

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