Kinross Gold (KGC) Price Target Lowered to $4.50 at Raymond James

Kinross Gold (NYSE:KGC) (TSE:K) had its target price decreased by Raymond James from $5.00 to $4.50 in a report released on Friday morning. Raymond James currently has an outperform rating on the mining company’s stock.

Several other research analysts also recently commented on KGC. BMO Capital Markets reaffirmed a hold rating and issued a $3.25 price objective on shares of Kinross Gold in a research note on Friday. TD Securities decreased their price objective on Kinross Gold from $5.50 to $5.00 and set a buy rating on the stock in a research note on Friday. Royal Bank of Canada reaffirmed a hold rating on shares of Kinross Gold in a research note on Thursday. Credit Suisse Group set a $4.00 price objective on Kinross Gold and gave the stock a hold rating in a research note on Tuesday, September 25th. Finally, ValuEngine downgraded Kinross Gold from a sell rating to a strong sell rating in a research note on Friday, August 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Kinross Gold has a consensus rating of Hold and an average target price of $4.28.

Shares of NYSE KGC traded down $0.07 during trading on Friday, hitting $2.59. The company had a trading volume of 14,953,706 shares, compared to its average volume of 15,140,013. The company has a quick ratio of 1.88, a current ratio of 3.71 and a debt-to-equity ratio of 0.37. Kinross Gold has a 12 month low of $2.51 and a 12 month high of $4.78. The company has a market capitalization of $3.34 billion, a P/E ratio of 18.50 and a beta of 0.22.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). Kinross Gold had a return on equity of 2.81% and a net margin of 6.85%. The company had revenue of $753.90 million during the quarter, compared to the consensus estimate of $777.48 million. During the same period last year, the business earned $0.07 EPS. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. Research analysts anticipate that Kinross Gold will post 0.16 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board grew its position in shares of Kinross Gold by 24.6% during the third quarter. Canada Pension Plan Investment Board now owns 2,476,245 shares of the mining company’s stock worth $6,714,000 after purchasing an additional 488,200 shares in the last quarter. FIL Ltd purchased a new stake in shares of Kinross Gold during the third quarter worth about $104,000. Fosun International Ltd purchased a new stake in shares of Kinross Gold during the third quarter worth about $410,000. Bank of New York Mellon Corp grew its position in shares of Kinross Gold by 13.8% during the third quarter. Bank of New York Mellon Corp now owns 15,122,219 shares of the mining company’s stock worth $40,830,000 after purchasing an additional 1,832,663 shares in the last quarter. Finally, Tobam grew its position in shares of Kinross Gold by 22.8% during the third quarter. Tobam now owns 6,193,118 shares of the mining company’s stock worth $16,865,000 after purchasing an additional 1,148,000 shares in the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.

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