Kinross Gold (NYSE:KGC) PT Raised to $12.00 at CIBC

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) had its target price lifted by investment analysts at CIBC from $8.15 to $12.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperformer” rating on the mining company’s stock. CIBC’s price target points to a potential upside of 34.08% from the company’s current price.

A number of other research firms have also recently weighed in on KGC. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group lifted their price objective on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Scotiabank lifted their price objective on Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.14.

Get Our Latest Analysis on Kinross Gold

Kinross Gold Price Performance

Shares of NYSE KGC traded up $0.36 during mid-day trading on Wednesday, reaching $8.95. The company’s stock had a trading volume of 18,844,490 shares, compared to its average volume of 15,108,309. The firm has a market capitalization of $11.00 billion, a PE ratio of 24.86, a P/E/G ratio of 0.55 and a beta of 1.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45. The stock has a fifty day moving average of $7.75 and a two-hundred day moving average of $6.45. Kinross Gold has a 52 week low of $4.32 and a 52 week high of $8.97.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last released its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. Kinross Gold’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. As a group, sell-side analysts anticipate that Kinross Gold will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Kinross Gold

Several large investors have recently bought and sold shares of KGC. Norges Bank acquired a new stake in Kinross Gold in the fourth quarter valued at about $265,327,000. Van ECK Associates Corp grew its stake in Kinross Gold by 9.5% in the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after acquiring an additional 13,099,791 shares during the period. Boston Partners boosted its holdings in shares of Kinross Gold by 44.0% in the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock valued at $102,236,000 after purchasing an additional 5,162,124 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Kinross Gold in the 1st quarter valued at $23,907,000. Finally, CIBC Asset Management Inc lifted its holdings in shares of Kinross Gold by 183.9% during the 4th quarter. CIBC Asset Management Inc now owns 4,445,008 shares of the mining company’s stock valued at $26,990,000 after acquiring an additional 2,879,269 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

About Kinross Gold

(Get Free Report)

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.

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