Kinross Gold (TSE:K) PT Lowered to C$16.50 at Canaccord Genuity Group

Kinross Gold (TSE:K) (NYSE:KGC) had its target price decreased by Canaccord Genuity Group from C$17.00 to C$16.50 in a report published on Friday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

K has been the topic of several other research reports. National Bankshares upped their target price on shares of Kinross Gold from C$13.75 to C$16.00 and gave the stock an outperform rating in a report on Wednesday, July 17th. Eight Capital upped their price objective on shares of Kinross Gold from C$15.00 to C$16.00 and gave the stock a buy rating in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of Buy and an average price target of C$14.60.

Kinross Gold Trading Up 0.6 %

K stock opened at C$13.36 on Friday. Kinross Gold has a 1-year low of C$5.91 and a 1-year high of C$13.70. The company has a current ratio of 1.27, a quick ratio of 1.11 and a debt-to-equity ratio of 31.89. The business’s 50 day moving average is C$12.13 and its 200-day moving average is C$10.29. The firm has a market cap of C$16.43 billion, a P/E ratio of 24.74, a P/E/G ratio of -0.60 and a beta of 1.24.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.19 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. The firm had revenue of C$1.67 billion for the quarter, compared to analysts’ expectations of C$1.39 billion.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a $0.041 dividend. The ex-dividend date was Thursday, August 22nd. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.23%. Kinross Gold’s payout ratio is currently 29.63%.

Insider Activity

In other news, Senior Officer William D. Dunford sold 6,076 shares of the business’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. In related news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the stock in a transaction that occurred 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. Also, Senior Officer William D. Dunford sold 6,076 shares of Kinross Gold 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. 0.27% of the stock is owned by 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.