Kinross Gold (NYSE:KGC) Given a $39.00 Price Target by RBC Dominion Securities Analysts

Key Points

• RBC Dominion Securities initiated a $39.00 price target on Kinross Gold and maintained an “outperform” rating, implying 72.42% upside from the prior close.
• Kinross shares fell 5.0% to $22.62, while the stock carries a “Moderate Buy” consensus rating and an average analyst target of $37.30.
• The company exceeded quarterly earnings expectations with $0.71 in EPS versus a $0.66 estimate, while revenue rose 29.5% year over year to $2.22 billion; institutional investors own 63.69% of shares.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K has been assigned a $39.00 target price by investment analysts at RBC Dominion Securities in a research note issued to investors on Thursday, BayStreet reports. The firm currently has an "outperform" rating on the mining company's stock. RBC Dominion Securities's target price suggests a potential upside of 72.42% from the company's previous close.

Other analysts have also issued research reports about the company. Zacks Research upgraded Kinross Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Wall Street Zen lowered Kinross Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Citigroup reissued a "buy" rating on shares of Kinross Gold in a report on Monday, September 28th. UBS Group cut their price target on Kinross Gold from $30.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, October 8th. Finally, TD Securities reduced their price objective on shares of Kinross Gold from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Kinross Gold currently has an average rating of "Moderate Buy" and a consensus target price of $37.30.

Kinross Gold Stock Down 5.0%

KGC stock traded down $1.20 during mid-day trading on Thursday, hitting $22.62. 7,747,065 shares of the company were exchanged, compared to its average volume of 9,198,181. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. Kinross Gold has a 1-year low of $21.90 and a 1-year high of $39.11. The firm's 50 day simple moving average is $27.37 and its 200 day simple moving average is $27.52. The firm has a market cap of $26.79 billion, a P/E ratio of 8.57, a P/E/G ratio of 0.78 and a beta of 0.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. Kinross Gold's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, sell-side analysts predict that Kinross Gold will post 2.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Kinross Gold during the 3rd quarter valued at $227,000. Cardinal Point Capital Management ULC purchased a new position in Kinross Gold during the 3rd quarter worth $258,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Kinross Gold during the 3rd quarter worth $2,445,000. Sowell Financial Services LLC bought a new stake in shares of Kinross Gold in the 3rd quarter worth $973,000. Finally, Quadrant Capital Group LLC bought a new stake in shares of Kinross Gold in the 3rd quarter worth $2,490,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Company Profile

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.

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