Kinross Gold (NYSE:KGC) Given New $21.00 Price Target at CIBC

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K had its price objective increased by research analysts at CIBC from $16.00 to $21.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperformer" rating on the mining company's stock. CIBC's price objective would indicate a potential upside of 35.07% from the stock's previous close.

Several other research firms also recently weighed in on KGC. Royal Bank Of Canada lifted their target price on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Stifel Canada raised shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 target price on the stock in a research report on Monday, June 30th. Finally, Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and lifted their target price for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Two analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $18.00.

Kinross Gold Price Performance

Shares of NYSE KGC traded up $0.14 during midday trading on Tuesday, reaching $15.55. The company's stock had a trading volume of 14,028,733 shares, compared to its average volume of 18,712,226. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $15.09 and a 200 day moving average price of $13.03. Kinross Gold has a one year low of $7.84 and a one year high of $16.10. The company has a market cap of $19.07 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 0.62 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm earned $0.10 EPS. The business's revenue for the quarter was up 38.5% on a year-over-year basis. On average, equities research analysts expect that Kinross Gold will post 0.81 EPS for the current year.

Institutional Trading of Kinross Gold

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Investment Advisors LLC lifted its stake in Kinross Gold by 3.1% in the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock valued at $351,000 after acquiring an additional 850 shares during the last quarter. Signaturefd LLC lifted its stake in Kinross Gold by 2.2% in the fourth quarter. Signaturefd LLC now owns 41,072 shares of the mining company's stock valued at $381,000 after acquiring an additional 865 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in Kinross Gold by 30.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock valued at $40,000 after acquiring an additional 1,002 shares during the last quarter. Cresset Asset Management LLC lifted its stake in Kinross Gold by 3.0% in the first quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company's stock valued at $438,000 after acquiring an additional 1,013 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in Kinross Gold by 2.4% in the fourth quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company's stock valued at $423,000 after acquiring an additional 1,079 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.