Kinross Gold (NYSE:KGC) Price Target Raised to $14.00

Kinross Gold (NYSE:KGC) (TSE:K) had its price target upped by CIBC from $13.00 to $14.00 in a research report released on Thursday morning,BayStreet.CA reports. CIBC currently has an outperform rating on the mining company’s stock.

Separately, StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $11.63.

Kinross Gold Trading Down 6.1 %

KGC opened at $11.41 on Thursday. The firm has a market capitalization of $14.02 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.67 and a beta of 1.24. The firm’s 50 day moving average is $10.33 and its 200-day moving average is $9.80. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $12.28. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Analysts expect that Kinross Gold will post 0.73 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, March 5th. Kinross Gold’s dividend payout ratio is presently 19.67%.

Hedge Funds Weigh In On Kinross Gold

Hedge funds have recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC acquired a new position in Kinross Gold in the third quarter worth $774,000. Mediolanum International Funds Ltd acquired a new position in Kinross Gold in the fourth quarter worth $2,506,000. International Assets Investment Management LLC acquired a new position in Kinross Gold in the third quarter worth $780,000. Geode Capital Management LLC boosted its holdings in Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after purchasing an additional 828,456 shares during the period. Finally, Raymond James & Associates boosted its holdings in Kinross Gold by 25.7% in the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after purchasing an additional 69,520 shares during the period. Institutional investors and hedge funds own 63.69% 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.