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BMO Capital Markets Begins Coverage on Kinross Gold (TSE:K)

BMO Capital Markets began coverage on shares of Kinross Gold (TSE:K) (NYSE:KGC) in a research note published on Friday, TipRanks reports. The firm issued…

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This article was originally published by ETF Daily News

BMO Capital Markets began coverage on shares of Kinross Gold (TSE:K) (NYSE:KGC) in a research note published on Friday, TipRanks reports. The firm issued a buy rating and a C$11.50 price target on the stock.

Several other equities analysts also recently weighed in on the company. Raymond James lifted their target price on Kinross Gold to C$10.50 and gave the company an outperform rating in a research report on Wednesday, October 13th. National Bankshares boosted their price objective on Kinross Gold from C$12.50 to C$13.00 in a research note on Friday, January 7th. Finally, JPMorgan Chase & Co. dropped their target price on Kinross Gold from C$13.00 to C$12.00 in a research report on Thursday, October 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of C$11.35.

Shares of TSE K opened at C$7.10 on Friday. The firm has a market capitalization of C$8.90 billion and a P/E ratio of 7.06. The company has a quick ratio of 0.94, a current ratio of 2.54 and a debt-to-equity ratio of 22.10. The stock’s 50-day simple moving average is C$7.38 and its two-hundred day simple moving average is C$7.48. Kinross Gold has a twelve month low of C$6.35 and a twelve month high of C$10.06.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Wednesday, November 10th. The company reported C$0.09 earnings per share for the quarter, beating the consensus estimate of C$0.06 by C$0.03. The company had revenue of C$1.09 billion for the quarter, compared to analysts’ expectations of C$1.10 billion. As a group, research analysts anticipate that Kinross Gold will post 0.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, November 30th. Kinross Gold’s payout ratio is currently 11.93%.

In related news, Director Jonathon Paul Rollinson purchased 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 15th. The stock was acquired at an average cost of C$6.43 per share, for a total transaction of C$482,017.50. Following the completion of the acquisition, the director now owns 2,508,028 shares in the company, valued at approximately C$16,118,845.15. Also, Senior Officer Michel Sylvestre sold 6,500 shares of Kinross Gold stock in a transaction that occurred on Friday, December 31st. The shares were sold at an average price of C$7.30, for a total transaction of C$47,450.00. Following the completion of the sale, the insider now owns 43,166 shares of the company’s stock, valued at C$315,111.80.

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, 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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The post BMO Capital Markets Begins Coverage on Kinross Gold (TSE:K) appeared first on ETF Daily News.


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