Kinross Gold (TSE:K) Given New C$16.00 Price Target at Eight Capital

Kinross Gold (TSE:K) (NYSE:KGC) had its target price raised by Eight Capital from C$15.00 to C$16.00 in a research report released on Wednesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on K. Canaccord Genuity Group boosted their target price on shares of Kinross Gold from C$13.50 to C$16.00 in a research note on Tuesday, July 23rd. National Bankshares upped their price objective on shares of Kinross Gold from C$13.75 to C$16.00 and gave the stock an outperform rating in a research report on Wednesday, July 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and an average price target of C$13.50.

Kinross Gold Stock Up 1.1 %

Shares of K stock opened at C$12.41 on Wednesday. Kinross Gold has a fifty-two week low of C$5.91 and a fifty-two week high of C$13.08. The firm has a market capitalization of C$15.26 billion, a PE ratio of 22.98, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27. The stock’s 50-day simple moving average is C$12.09 and its 200-day simple moving average is C$10.26.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.18 by C$0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 7.81%. The business had revenue of C$1.67 billion for the quarter, compared to the consensus estimate of C$1.39 billion.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.041 per share. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s payout ratio is currently 29.63%.

Insider Buying and Selling

In other news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$12.31, for a total transaction of C$55,395.00. In other Kinross Gold news, Senior Officer William D. Dunford sold 6,076 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of C$10.76, for a total transaction of C$65,377.76. Also, Senior Officer Claude J.S. Schimper sold 4,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$12.31, for a total value of C$55,395.00. 0.27% of the stock is currently owned by company insiders.

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.