CIBC Lowers Kinross Gold Price Target to $5.50 (KGC)
Equities research analysts at CIBC lowered their target price on shares of Kinross Gold (NYSE:KGC) from $6.50 to $5.50 in a research note issued to investors on Friday. CIBC’s price objective points to a potential upside of 41.75% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Mackie upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a research note on Friday, August 1st. They now have a C$6.00 price target on the stock, down previously from C$6.25. Separately, analysts at RBC Capital cut their price target on shares of Kinross Gold from $5.75 to $5.50 in a research note on Friday, August 1st. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Kinross Gold from C$6.75 to C$6.50 in a research note on Thursday, July 10th. They now have a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $5.24.
Shares of Kinross Gold (NYSE:KGC) traded down 2.27% on Friday, hitting $3.88. 10,407,107 shares of the company’s stock traded hands. Kinross Gold has a 52 week low of $3.66 and a 52 week high of $6.23. The stock has a 50-day moving average of $4.14 and a 200-day moving average of $4.35. The company’s market cap is $4.440 billion.
Kinross Gold (NYSE:KGC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.01. The company had revenue of $911.90 million for the quarter, compared to the consensus estimate of $843.59 million. During the same quarter last year, the company posted $0.10 earnings per share. Kinross Gold’s revenue was down 5.8% compared to the same quarter last year. On average, analysts predict that Kinross Gold will post $0.16 earnings per share for the current fiscal year.
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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