Royal Bank of Canada Forecasts Strong Price Appreciation for Kinross Gold (NYSE:KGC) Stock

Kinross Gold (NYSE:KGC - Free Report) TSE: K had its price objective upped by Royal Bank of Canada from $14.00 to $19.00 in a report released on Wednesday,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the mining company's stock.

KGC has been the topic of a number of other reports. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research note on Wednesday, April 23rd. Stifel Canada raised Kinross Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. CIBC reissued an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, May 13th. BMO Capital Markets started coverage on Kinross Gold in a research note on Wednesday, April 16th. They set an "outperform" rating on the stock. Finally, National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $15.40.

Kinross Gold Trading Down 0.1%

Shares of KGC stock traded down $0.02 during mid-day trading on Wednesday, reaching $15.46. 23,302,326 shares of the stock traded hands, compared to its average volume of 18,509,670. The stock's fifty day simple moving average is $14.15 and its two-hundred day simple moving average is $11.86. Kinross Gold has a 1-year low of $7.20 and a 1-year high of $15.96. The company has a market cap of $18.96 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm posted $0.10 earnings per share. The business's revenue for the quarter was up 38.5% on a year-over-year basis. On average, research analysts anticipate that Kinross Gold will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.78%. Kinross Gold's dividend payout ratio (DPR) is 12.24%.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds have recently made changes to their positions in the stock. Capital Investment Advisors LLC raised its position in shares of Kinross Gold by 3.1% during the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock worth $351,000 after acquiring an additional 850 shares during the last quarter. Signaturefd LLC increased its holdings in Kinross Gold by 2.2% in the fourth quarter. Signaturefd LLC now owns 41,072 shares of the mining company's stock worth $381,000 after purchasing an additional 865 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its holdings 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 worth $40,000 after purchasing an additional 1,002 shares in the last quarter. Cresset Asset Management LLC increased its holdings 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 worth $438,000 after purchasing an additional 1,013 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings 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 worth $423,000 after purchasing an additional 1,079 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

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.