Kinross Gold (NYSE:KGC) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a hold rating to a buy rating in a research note released on Tuesday, ValuEngine reports.

KGC has been the topic of a number of other research reports. Canaccord Genuity reaffirmed a buy rating on shares of Kinross Gold in a research note on Friday, July 19th. JPMorgan Chase & Co. downgraded shares of Kinross Gold from a neutral rating to an underweight rating and set a $3.20 price target on the stock. in a research note on Thursday, May 30th. Deutsche Bank set a $4.00 price target on shares of Kinross Gold and gave the stock a hold rating in a research note on Thursday, July 11th. Royal Bank of Canada reaffirmed a hold rating and set a $4.25 price target on shares of Kinross Gold in a research note on Sunday, August 11th. Finally, Raymond James reaffirmed an outperform rating and set a $5.00 price target on shares of Kinross Gold in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $4.29.

NYSE:KGC opened at $5.18 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 2.88 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.29 billion, a P/E ratio of 50.20 and a beta of -0.06. Kinross Gold has a fifty-two week low of $2.38 and a fifty-two week high of $5.32. The firm’s 50 day moving average is $4.92 and its two-hundred day moving average is $3.87.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.03. The company had revenue of $837.80 million for the quarter, compared to the consensus estimate of $820.97 million. Kinross Gold had a net margin of 0.13% and a return on equity of 2.78%. Kinross Gold’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. Research analysts forecast that Kinross Gold will post 0.26 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in shares of Kinross Gold by 25.2% in the second quarter. Commonwealth Equity Services LLC now owns 2,389,722 shares of the mining company’s stock worth $9,272,000 after acquiring an additional 481,674 shares in the last quarter. Alps Advisors Inc. grew its holdings in Kinross Gold by 48.9% during the 2nd quarter. Alps Advisors Inc. now owns 1,978,817 shares of the mining company’s stock valued at $7,678,000 after purchasing an additional 649,926 shares in the last quarter. Cetera Advisor Networks LLC acquired a new stake in Kinross Gold during the 1st quarter valued at $69,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Kinross Gold by 24.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,499,958 shares of the mining company’s stock valued at $17,425,000 after purchasing an additional 873,800 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in Kinross Gold by 20.8% during the 2nd quarter. Fiera Capital Corp now owns 399,139 shares of the mining company’s stock valued at $1,543,000 after purchasing an additional 68,610 shares in the last quarter. 54.86% of the stock is owned by institutional investors.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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