Kinross Gold (TSE:K) Upgraded to “Buy” at Cormark

Kinross Gold (TSE:K) (NYSE:KGC) was upgraded by Cormark from a “market perform” rating to a “buy” rating in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The firm currently has a C$13.00 target price on the stock, up from their previous target price of C$11.00. Cormark’s target price suggests a potential upside of 26.46% from the stock’s previous close.

A number of other brokerages have also recently weighed in on K. Canaccord Genuity Group boosted their price target on Kinross Gold from C$11.00 to C$12.50 in a research report on Tuesday, April 23rd. Stifel Nicolaus upped their target price on Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a research report on Friday, April 19th. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Eight Capital boosted their price objective on shares of Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Finally, National Bankshares raised their target price on shares of Kinross Gold from C$13.50 to C$13.75 in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and a consensus price target of C$11.71.

Kinross Gold Stock Up 5.4 %

Shares of Kinross Gold stock traded up C$0.53 during trading on Thursday, hitting C$10.28. 2,402,898 shares of the stock traded hands, compared to its average volume of 3,331,388. The company has a fifty day moving average price of C$8.32 and a two-hundred day moving average price of C$7.78. Kinross Gold has a twelve month low of C$5.91 and a twelve month high of C$10.28. The stock has a market cap of C$12.64 billion, a P/E ratio of 22.35, a PEG ratio of -0.60 and a beta of 1.21. The company has a debt-to-equity ratio of 36.54, a quick ratio of 1.11 and a current ratio of 2.63.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings results on Wednesday, February 14th. The company reported C$0.15 EPS for the quarter, topping the consensus estimate of C$0.12 by C$0.03. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%. The company had revenue of C$1.52 billion for the quarter, compared to analyst estimates of C$1.24 billion. Equities research analysts predict that Kinross Gold will post 0.4605193 EPS for the current fiscal year.

Insider Buying and Selling at Kinross Gold

In other news, Senior Officer Claude J.S. Schimper sold 8,400 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$7.64, for a total value of C$64,176.00. In related news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of C$7.64, for a total transaction of C$64,176.00. Insiders have sold 143,621 shares of company stock valued at $893,873 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

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.