Price Targets of $17 CDN and $14.50 USD"On October 20th,
Kinross Gold (TSX: K) held an investor call to give more details on their recent three-year guidance and long term pipeline opportunities. Carey MacRury of Canaccord commented on the event, saying, “overall, while many of the opportunities are still early stage, we view the update as positive, with more confidence that Kinross can continue to extend its production profile into the future. K remains a top pick among the senior producers.”
Simultaneously, the firm upgraded their long term price target to C$17 from C$16 and reiterated their buy recommendation on Kinross Gold.
Over at BMO Capital markets, analyst Jackie Przybylowski also commented on the event, stating, “the longer-term plan is flexible. It draws from a wealth of potential development opportunities — as the projects are studied and de-risked we will have increasing clarity to the costs and makeup of this pipeline. We anticipate more information on these projects over the coming quarters. We maintain our Outperform rating and we have raised our target price to US$14.50/share (from US$14.25).”