Kinross Gold (NYSE:KGC) Stock Price Expected to Rise, Scotiabank Analyst Says

Kinross Gold (NYSE:KGC - Free Report) TSE: K had its price target boosted by Scotiabank from $13.00 to $16.00 in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has a sector outperform rating on the mining company's stock.

Several other research firms have also weighed in on KGC. National Bank Financial upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 4th. Stifel Canada raised shares of Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. CIBC upped their target price on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Finally, Raymond James raised their price target on Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $13.30.

Kinross Gold Stock Down 1.6 %

NYSE KGC traded down $0.23 during trading hours on Monday, hitting $14.80. The company had a trading volume of 19,608,958 shares, compared to its average volume of 17,752,002. The firm's 50 day moving average is $12.11 and its 200 day moving average is $10.82. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 0.68 and a beta of 1.12. Kinross Gold has a fifty-two week low of $6.34 and a fifty-two week high of $15.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Sell-side analysts anticipate that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Wednesday, March 5th. Kinross Gold's dividend payout ratio (DPR) is currently 15.58%.

Hedge Funds Weigh In On Kinross Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp lifted its position in shares of Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares in the last quarter. Vanguard Group Inc. boosted its position in Kinross Gold by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company's stock valued at $439,881,000 after buying an additional 763,248 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after buying an additional 3,224,455 shares during the period. Norges Bank bought a new stake in shares of Kinross Gold during the fourth quarter worth $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Kinross Gold by 10.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company's stock valued at $136,028,000 after acquiring an additional 1,398,225 shares during the period. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Company Profile

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.