Wall Street Zen Upgrades Kinross Gold (NYSE:KGC) to Strong-Buy

by · The Cerbat Gem

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

A number of other equities analysts have also recently weighed in on KGC. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. TD Securities cut their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings cut shares of Kinross Gold from a “buy (a+)” rating to a “buy (a-)” rating in a research report on Friday, May 1st. Scotiabank boosted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.81.

View Our Latest Research Report on Kinross Gold

Kinross Gold Trading Up 0.1%

Shares of NYSE KGC opened at $28.40 on Friday. The company’s fifty day moving average is $31.23 and its 200-day moving average is $30.49. The stock has a market cap of $33.87 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.02 and a beta of 0.73. Kinross Gold has a twelve month low of $13.34 and a twelve month high of $39.11. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. Equities research analysts predict that Kinross Gold will post 2.92 EPS for the current year.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in Kinross Gold by 3.2% in the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock valued at $262,000 after buying an additional 292 shares during the last quarter. Turning Point Benefit Group Inc. increased its stake in Kinross Gold by 6.6% in the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after buying an additional 393 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Kinross Gold by 2.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock valued at $636,000 after buying an additional 473 shares during the last quarter. Armstrong Advisory Group Inc. increased its stake in Kinross Gold by 32.9% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock valued at $55,000 after buying an additional 483 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in Kinross Gold by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock valued at $629,000 after buying an additional 521 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold News Roundup

Here are the key news stories impacting Kinross Gold this week:

  • Positive Sentiment: Analysts are raising earnings estimates across several future periods, reflecting better profit expectations for Kinross Gold. Article Title
  • Positive Sentiment: Strong cash flow, project growth, and a solid balance sheet may help cushion the stock during periods of softer gold prices. Article Title
  • Neutral Sentiment: Zacks Research maintained a Hold rating while lifting forecasts, which supports the outlook but does not amount to a bullish upgrade.
  • Neutral Sentiment: The stock’s long-term performance has been very strong, but recent volatility has made valuation and timing questions more important for investors. Article Title
  • Negative Sentiment: Weakness in gold prices and a break below the 50-day SMA are weighing on near-term trading sentiment for Kinross Gold.

Kinross Gold Company Profile

(Get Free Report)

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.

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