Kinross Gold (TSE:K) Price Target Raised to C$6.00

Kinross Gold (TSE:K) (NYSE:KGC) had its price target increased by CIBC from C$5.50 to C$6.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential downside of 11.89% from the stock’s previous close.

K has been the topic of a number of other research reports. Canaccord Genuity increased their price objective on Kinross Gold from C$7.25 to C$8.00 in a report on Tuesday, August 6th. Eight Capital increased their price objective on Kinross Gold from C$5.25 to C$7.50 in a report on Thursday, August 8th. Finally, National Bank Financial increased their target price on Kinross Gold from C$8.00 to C$9.25 and gave the company an “outperform” rating in a research note on Thursday, September 5th.

K stock traded down C$0.05 during mid-day trading on Wednesday, hitting C$6.81. The stock had a trading volume of 2,937,185 shares, compared to its average volume of 3,887,120. The company has a current ratio of 2.88, a quick ratio of 1.07 and a debt-to-equity ratio of 41.13. Kinross Gold has a 1-year low of C$3.15 and a 1-year high of C$7.10. The company has a fifty day moving average of C$6.44 and a 200 day moving average of C$5.11. The stock has a market capitalization of $8.59 billion and a price-to-earnings ratio of -116.35.



Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Wednesday, July 31st. The company reported C$0.08 earnings per share for the quarter, topping the consensus estimate of C$0.04 by C$0.04. The firm had revenue of C$1.12 billion during the quarter, compared to analyst estimates of C$1.09 billion. As a group, sell-side analysts expect that Kinross Gold will post 0.1303994 earnings per share for the current fiscal year.

In other news, Senior Officer Geoffrey Peters Gold sold 74,405 shares of Kinross Gold stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of C$6.70, for a total value of C$498,513.50. Following the completion of the sale, the insider now directly owns 736,290 shares of the company’s stock, valued at approximately C$4,933,143. Also, Senior Officer Paul Botond Stilicho Tomory sold 20,000 shares of Kinross Gold stock in a transaction on Friday, August 9th. The shares were sold at an average price of C$6.79, for a total value of C$135,800.00. Following the completion of the sale, the insider now directly owns 144,807 shares of the company’s stock, valued at C$983,239.53. Insiders have sold a total of 96,191 shares of company stock valued at $645,488 over the last ninety days.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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