Kinross Gold (NYSE:KGC) Given New $41.00 Price Target at Scotiabank

Kinross Gold (NYSE:KGC) (TSE:K) had its price target decreased by research analysts at Scotiabank from $45.00 to $41.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s price target indicates a potential upside of 71.66% from the company’s current price.

A number of other brokerages have also commented on KGC. Royal Bank Of Canada decreased their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. UBS Group decreased their target price on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Weiss Ratings lowered shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus target price of $37.31.

Kinross Gold Trading Up 1.7%

Shares of NYSE:KGC traded up $0.41 during trading on Tuesday, reaching $23.89. The stock had a trading volume of 4,462,368 shares, compared to its average volume of 9,978,906. Kinross Gold has a 52 week low of $15.10 and a 52 week high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The firm’s fifty day moving average is $27.04 and its 200 day moving average is $30.52. The stock has a market cap of $28.33 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 0.64 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. Kinross Gold’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. As a group, equities analysts forecast that Kinross Gold will post 2.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Kinross Gold in the 4th quarter worth about $26,000. Financial Management Professionals Inc. purchased a new stake in Kinross Gold during the fourth quarter valued at about $26,000. Virtus Advisers LLC bought a new position in Kinross Gold during the third quarter worth about $28,000. Ascentis Independent Advisors bought a new position in Kinross Gold during the first quarter worth about $29,000. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.