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

Kinross Gold (NYSE:KGC) (TSE:K) had its price objective lifted by equities researchers at CIBC from $13.00 to $14.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the mining company’s stock. CIBC’s target price points to a potential upside of 24.28% from the company’s previous close.

Separately, StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Kinross Gold has an average rating of “Buy” and an average price target of $11.63.

Kinross Gold Trading Down 1.3 %

NYSE:KGC opened at $11.27 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. Kinross Gold has a fifty-two week low of $4.75 and a fifty-two week high of $12.28. The stock’s 50-day moving average is $10.36 and its two-hundred day moving average is $9.81. The stock has a market cap of $13.85 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. As a group, equities research analysts forecast that Kinross Gold will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its holdings in Kinross Gold by 62.2% in the 4th 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 during the last quarter. Vanguard Group Inc. lifted its holdings 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 worth $439,881,000 after purchasing an additional 763,248 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after purchasing an additional 3,224,455 shares during the last quarter. Norges Bank acquired a new stake in Kinross Gold in the 4th quarter worth approximately $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Kinross Gold by 10.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock worth $136,028,000 after purchasing an additional 1,398,225 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.