Kinross Gold Co. (NYSE:KGC) Receives Average Recommendation of “Hold” from Analysts

Kinross Gold Co. (NYSE:KGC) (TSE:K) has been given an average rating of “Hold” by the thirteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $3.85.

KGC has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered Kinross Gold from a “neutral” rating to an “underweight” rating and set a $3.20 price objective on the stock. in a report on Thursday, May 30th. Zacks Investment Research raised Kinross Gold from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research note on Tuesday, April 23rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $4.25 price target on shares of Kinross Gold in a research note on Sunday. ValuEngine raised Kinross Gold from a “hold” rating to a “buy” rating in a research note on Friday, June 21st. Finally, Deutsche Bank set a $4.00 price target on Kinross Gold and gave the stock a “hold” rating in a research note on Thursday, July 11th.

KGC traded down $0.11 during trading on Thursday, hitting $4.86. The company’s stock had a trading volume of 22,575,600 shares, compared to its average volume of 11,796,847. The company has a quick ratio of 1.16, a current ratio of 2.88 and a debt-to-equity ratio of 0.41. Kinross Gold has a twelve month low of $2.38 and a twelve month high of $5.17. The business’s fifty day moving average price is $4.25. The company has a market cap of $6.26 billion and a price-to-earnings ratio of 48.60.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. Kinross Gold had a return on equity of 2.78% and a net margin of 0.13%. The company had revenue of $837.80 million for the quarter, compared to analyst estimates of $820.97 million. During the same period last year, the company earned $0.03 earnings per share. Kinross Gold’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that Kinross Gold will post 0.24 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Kinross Gold during the fourth quarter worth $47,922,000. Swiss National Bank boosted its stake in Kinross Gold by 2.9% during the first quarter. Swiss National Bank now owns 9,851,235 shares of the mining company’s stock worth $33,920,000 after buying an additional 278,600 shares during the last quarter. Toronto Dominion Bank boosted its stake in Kinross Gold by 27.5% during the first quarter. Toronto Dominion Bank now owns 7,043,462 shares of the mining company’s stock worth $24,238,000 after buying an additional 1,520,457 shares during the last quarter. Tocqueville Asset Management L.P. boosted its stake in Kinross Gold by 3.8% during the first quarter. Tocqueville Asset Management L.P. now owns 6,858,967 shares of the mining company’s stock worth $23,595,000 after buying an additional 254,100 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Kinross Gold by 10.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,616,655 shares of the mining company’s stock worth $21,706,000 after buying an additional 528,490 shares during the last quarter. 57.94% of the stock is currently owned by hedge funds and other 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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