Raymond James Cuts Kinross Gold (NYSE:KGC) Price Target to $10.50

Kinross Gold (NYSE:KGC) (TSE:K) had its price target decreased by research analysts at Raymond James from $11.00 to $10.50 in a report released on Tuesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the mining company’s stock. Raymond James’ target price would indicate a potential upside of 46.44% from the stock’s current price. Raymond James also issued estimates for Kinross Gold’s Q1 2021 earnings at $0.13 EPS, Q2 2021 earnings at $0.12 EPS, Q3 2021 earnings at $0.14 EPS, Q4 2021 earnings at $0.16 EPS, Q1 2022 earnings at $0.18 EPS, Q2 2022 earnings at $0.19 EPS, Q3 2022 earnings at $0.24 EPS and Q4 2022 earnings at $0.24 EPS.

Other analysts also recently issued reports about the stock. Barclays lifted their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, February 11th. JPMorgan Chase & Co. assumed coverage on shares of Kinross Gold in a research report on Wednesday, February 10th. They issued a “focus list” rating on the stock. National Bank Financial restated an “outperform” rating on shares of Kinross Gold in a research report on Monday, January 11th. Stifel Nicolaus dropped their price target on shares of Kinross Gold from $14.75 to $14.50 and set a “buy” rating on the stock in a research report on Monday, February 8th. Finally, TD Securities dropped their price target on shares of Kinross Gold from $14.00 to $13.50 and set a “buy” rating on the stock in a research report on Friday, February 12th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $11.57.

Shares of NYSE:KGC opened at $7.17 on Tuesday. The company has a market cap of $9.04 billion, a PE ratio of 8.44 and a beta of 0.79. The company’s 50-day moving average price is $6.71 and its 200 day moving average price is $7.54. Kinross Gold has a fifty-two week low of $4.90 and a fifty-two week high of $10.31. The company has a quick ratio of 0.98, a current ratio of 1.76 and a debt-to-equity ratio of 0.24.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, February 9th. The mining company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. Kinross Gold had a net margin of 26.92% and a return on equity of 14.20%. Kinross Gold’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. As a group, equities analysts anticipate that Kinross Gold will post 0.72 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC grew its stake in shares of Kinross Gold by 5.3% in the 4th quarter. Signaturefd LLC now owns 36,469 shares of the mining company’s stock worth $268,000 after purchasing an additional 1,832 shares during the last quarter. Advisor Partners LLC grew its stake in shares of Kinross Gold by 4.0% in the 3rd quarter. Advisor Partners LLC now owns 48,206 shares of the mining company’s stock worth $425,000 after purchasing an additional 1,859 shares during the last quarter. Credit Agricole S A grew its stake in shares of Kinross Gold by 18.4% in the 4th quarter. Credit Agricole S A now owns 12,851 shares of the mining company’s stock worth $94,000 after purchasing an additional 2,000 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Kinross Gold by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 409,234 shares of the mining company’s stock worth $3,004,000 after purchasing an additional 2,151 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Kinross Gold by 6.7% in the 4th quarter. US Bancorp DE now owns 44,991 shares of the mining company’s stock worth $332,000 after purchasing an additional 2,836 shares during the last quarter. 51.64% 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 Canada, the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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