Kinross Gold (NYSE:KGC) Lowered to “Strong Sell” at ValuEngine

ValuEngine cut shares of Kinross Gold (NYSE:KGC) (TSE:K) from a sell rating to a strong sell rating in a report published on Friday morning, ValuEngine reports.

KGC has been the subject of a number of other research reports. TD Securities lifted their target price on Kinross Gold from $5.00 to $6.00 and gave the stock a buy rating in a report on Tuesday, September 17th. Citigroup lifted their target price on Kinross Gold from $4.00 to $5.00 and gave the stock a neutral rating in a report on Wednesday, September 11th. Barclays reaffirmed an equal weight rating and set a $5.00 target price on shares of Kinross Gold in a report on Tuesday, October 15th. They noted that the move was a valuation call. Beacon Securities reaffirmed a buy rating on shares of Kinross Gold in a report on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their target price on Kinross Gold from $5.50 to $6.00 and gave the stock a sector perform rating in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $4.77.

NYSE KGC traded down $0.07 during trading on Friday, hitting $4.17. The company’s stock had a trading volume of 12,842,134 shares, compared to its average volume of 12,573,919. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.88 and a quick ratio of 1.16. The company has a market cap of $5.99 billion, a PE ratio of 41.70 and a beta of -0.05. The business’s 50 day simple moving average is $4.79 and its 200-day simple moving average is $4.20. Kinross Gold has a fifty-two week low of $2.38 and a fifty-two week high of $5.47.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, November 6th. The mining company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $877.10 million during the quarter, compared to the consensus estimate of $908.75 million. Kinross Gold had a return on equity of 2.78% and a net margin of 0.13%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) earnings per share. Analysts expect that Kinross Gold will post 0.31 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in KGC. Amundi Pioneer Asset Management Inc. lifted its holdings in Kinross Gold by 15.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,310,516 shares of the mining company’s stock valued at $11,388,000 after acquiring an additional 435,736 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Kinross Gold by 12.9% in the second quarter. Crossmark Global Holdings Inc. now owns 109,878 shares of the mining company’s stock valued at $426,000 after acquiring an additional 12,584 shares during the period. Exane Derivatives lifted its holdings in Kinross Gold by 267.4% in the second quarter. Exane Derivatives now owns 164,896 shares of the mining company’s stock valued at $640,000 after acquiring an additional 120,013 shares during the period. NN Investment Partners Holdings N.V. lifted its holdings in Kinross Gold by 36.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,081,049 shares of the mining company’s stock valued at $4,194,000 after acquiring an additional 288,588 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in 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 valued at $9,272,000 after acquiring an additional 481,674 shares during the period. 54.96% of the stock is owned by hedge funds and other institutional investors.

About Kinross Gold

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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