RBC Dominion Securities Reiterates “$39.00” Price Target for Kinross Gold (NYSE:KGC)

RBC Dominion Securities set a $39.00 target price on Kinross Gold (NYSE:KGC) (TSE:K) in a research report released on Thursday morning,BayStreet reports. The brokerage currently has an outperform rating on the mining company’s stock.

A number of other analysts have also recently issued reports on KGC. Canaccord Genuity Group reduced their target price on shares of Kinross Gold from $52.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Scotiabank dropped their price target on shares of Kinross Gold from $41.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, September 24th. TD Securities cut their price target on shares of Kinross Gold from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. UBS Group reduced their price objective on shares of Kinross Gold from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Finally, Scotia decreased their price objective on shares of Kinross Gold from $41.00 to $39.00 and set a “sector outperform” rating for the company in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.30.

Kinross Gold Stock Performance

Shares of KGC stock opened at $22.32 on Thursday. Kinross Gold has a fifty-two week low of $21.83 and a fifty-two week high of $39.11. The stock’s 50-day moving average is $27.18 and its two-hundred day moving average is $27.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The firm has a market cap of $26.38 billion, a P/E ratio of 8.46, a PEG ratio of 0.74 and a beta of 0.82.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. The firm’s revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. Analysts predict that Kinross Gold will post 2.41 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is presently 6.06%.

Institutional Investors Weigh In On Kinross Gold

Large investors have recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC acquired a new position in Kinross Gold during the third quarter valued at approximately $319,000. Signaturefd LLC lifted its stake in shares of Kinross Gold by 13.3% in the third quarter. Signaturefd LLC now owns 55,263 shares of the mining company’s stock worth $1,331,000 after buying an additional 6,468 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Kinross Gold in the third quarter worth $973,000. Sterling Capital Management LLC boosted its holdings in shares of Kinross Gold by 35.9% during the 3rd quarter. Sterling Capital Management LLC now owns 5,978 shares of the mining company’s stock worth $144,000 after buying an additional 1,579 shares during the period. Finally, U S Global Investors Inc. bought a new stake in shares of Kinross Gold during the 3rd quarter worth $9,367,000. Institutional investors own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.

Kinross’s producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.

Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.