Kinross Gold (NYSE:KGC) Rating Lowered to Buy at Wall Street Zen
by Jessica Moore · The Cerbat GemKinross Gold (NYSE:KGC – Get Free Report) (TSE:K) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.
Several other equities analysts have also recently issued reports on the company. UBS Group decreased their price target on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a report on Wednesday, February 4th. Scotiabank raised their price target on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. TD Securities decreased their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $36.00 to $45.00 in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus target price of $38.81.
Check Out Our Latest Stock Analysis on Kinross Gold
Kinross Gold Stock Performance
Shares of NYSE:KGC opened at $32.77 on Friday. Kinross Gold has a twelve month low of $13.28 and a twelve month high of $39.11. The firm has a market cap of $39.13 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.56 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. The business has a fifty day moving average of $32.37 and a 200-day moving average of $29.96.
Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last posted its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm’s quarterly revenue was up 42.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 earnings per share. On average, equities research analysts predict that Kinross Gold will post 2.77 EPS for the current fiscal year.
Hedge Funds Weigh In On Kinross Gold
Hedge funds have recently added to or reduced their stakes in the stock. Caitlin John LLC acquired a new stake in shares of Kinross Gold during the third quarter worth about $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth about $26,000. Financial Management Professionals Inc. acquired a new stake in shares of Kinross Gold during the fourth quarter worth about $26,000. Virtus Advisers LLC acquired a new stake in shares of Kinross Gold during the third quarter worth about $28,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in shares of Kinross Gold during the third quarter worth about $29,000. Institutional investors and hedge funds own 63.69% of the company’s stock.
About Kinross Gold
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.