Barclays Lowers Kinross Gold Corp Price Target to $6.00 (KGC)
Barclays reduced their price objective on shares of Kinross Gold Corp (NYSE:KGC) from $7.00 to $6.00 in a research note issued on Friday, American Banking and Market News reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price target points to a potential upside of 32.30% from the stock’s previous close.
Kinross Gold Corp (NYSE:KGC) traded up 5.40% on Friday, hitting $4.785. 9,789,704 shares of the company’s stock traded hands. Kinross Gold Corp has a 1-year low of $4.23 and a 1-year high of $9.91. The stock’s 50-day moving average is $4.51 and its 200-day moving average is $4.99. The company’s market cap is $5.471 billion.
Kinross Gold Corp (NYSE:KGC) last released its earnings data on Wednesday, November 13th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.01. The company had revenue of $876.30 million for the quarter, compared to the consensus estimate of $762.84 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was down 21.0% on a year-over-year basis. On average, analysts predict that Kinross Gold Corp will post $0.33 earnings per share for the current fiscal year.
KGC has been the subject of a number of other recent research reports. Analysts at TD Securities downgraded shares of Kinross Gold Corp from a “buy” rating to a “hold” rating in a research note to investors on Thursday, January 9th. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Kinross Gold Corp from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday, December 18th. They now have a $5.00 price target on the stock, down previously from $7.00. Finally, analysts at Morgan Stanley upgraded shares of Kinross Gold Corp from an “underweight” rating to an “equal weight” rating in a research note to investors on Tuesday, November 26th. They now have a $5.75 price target on the stock, up previously from $5.00. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. Kinross Gold Corp presently has an average rating of “Hold” and an average target price of $7.56.
Kinross Gold Corporation (NYSE:KGC) is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties.
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