Kinross Gold (NYSE:KGC) PT Set at $9.50 by CSFB

CSFB set a $9.50 target price on Kinross Gold (NYSE:KGC) (TSE:K) in a report released on Friday, BayStreet.CA reports. The firm currently has a neutral rating on the mining company’s stock.

KGC has been the topic of several other research reports. Royal Bank of Canada restated a buy rating and set a $12.00 price objective on shares of Kinross Gold in a research note on Tuesday, August 11th. BMO Capital Markets upgraded Kinross Gold from a market perform rating to an outperform rating and set a $14.25 price objective on the stock in a research note on Thursday. Scotiabank lifted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a sector outperform rating in a report on Friday. ValuEngine raised shares of Kinross Gold from a sell rating to a hold rating in a report on Monday, August 3rd. Finally, Credit Suisse Group reiterated a hold rating and set a $8.50 price objective on shares of Kinross Gold in a research note on Wednesday, July 29th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $10.29.

KGC stock opened at $10.00 on Friday. The company has a current ratio of 3.76, a quick ratio of 2.45 and a debt-to-equity ratio of 0.48. The firm has a 50 day simple moving average of $8.96 and a 200-day simple moving average of $7.00. The company has a market capitalization of $11.65 billion, a P/E ratio of 20.13 and a beta of 1.04. Kinross Gold has a twelve month low of $2.72 and a twelve month high of $10.31.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Kinross Gold had a net margin of 23.96% and a return on equity of 11.03%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. On average, research analysts predict that Kinross Gold will post 0.68 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. bought a new stake in Kinross Gold during the 2nd quarter valued at $30,000. Cerebellum GP LLC acquired a new position in shares of Kinross Gold during the second quarter valued at $25,000. IFP Advisors Inc raised its stake in shares of Kinross Gold by 7,500.0% during the second quarter. IFP Advisors Inc now owns 6,080 shares of the mining company’s stock valued at $43,000 after purchasing an additional 6,000 shares in the last quarter. Ninety One SA PTY Ltd bought a new stake in shares of Kinross Gold during the first quarter valued at about $33,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Kinross Gold in the second quarter worth about $58,000. Hedge funds and other institutional investors own 53.20% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the 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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