Canaccord Genuity Group Raises Kinross Gold (TSE:K) Price Target to C$16.00

Kinross Gold (TSE:K) (NYSE:KGC) had its target price increased by equities researchers at Canaccord Genuity Group from C$13.50 to C$16.00 in a report issued on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s price objective points to a potential upside of 28.82% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. National Bankshares lifted their price target on Kinross Gold from C$13.75 to C$16.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Cormark raised shares of Kinross Gold from a “market perform” rating to a “buy” rating and raised their price objective for the stock from C$11.00 to C$13.00 in a research note on Thursday, May 9th. Stifel Nicolaus boosted their target price on shares of Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Eight Capital raised their target price on Kinross Gold from C$11.00 to C$15.00 in a research report on Thursday, July 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kinross Gold has an average rating of “Buy” and a consensus target price of C$13.33.

Kinross Gold Price Performance

TSE:K traded up C$0.16 during trading hours on Tuesday, reaching C$12.42. 753,055 shares of the company’s stock were exchanged, compared to its average volume of 3,270,151. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 36.08. The company has a market capitalization of C$15.28 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of -0.60 and a beta of 1.19. Kinross Gold has a 12 month low of C$5.91 and a 12 month high of C$12.86. The business’s 50-day simple moving average is C$11.11 and its two-hundred day simple moving average is C$9.04.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Tuesday, May 7th. The company reported C$0.14 earnings per share for the quarter, topping the consensus estimate of C$0.08 by C$0.06. The business had revenue of C$1.46 billion during the quarter, compared to analyst estimates of C$1.19 billion. Kinross Gold had a return on equity of 7.06% and a net margin of 9.86%. Sell-side analysts expect that Kinross Gold will post 0.7244147 EPS for the current fiscal year.

Insider Activity

In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 7,000 shares of Kinross Gold stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of C$11.09, for a total value of C$77,630.00. In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$11.09, for a total transaction of C$77,630.00. Also, Senior Officer Geoffrey Peters Gold sold 600,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of C$10.83, for a total value of C$6,499,680.00. Insiders sold a total of 643,076 shares of company stock worth $6,954,397 in the last three months. 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.