Traders Purchase Large Volume of Put Options on Kinross Gold (KGC)
Shares of Kinross Gold (NYSE:KGC) were the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 5,643 put options on the company, AnalystRatings.Net reports. This is an increase of approximately 220% compared to the typical daily volume of 1,761 put options.
A number of analysts have recently weighed in on KGC shares. Analysts at CIBC cut their price target on shares of Kinross Gold from $6.50 to $5.50 in a research note on Friday, August 8th. Separately, 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. Finally, 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. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $5.24.
Kinross Gold (NYSE:KGC) traded up 1.24% during mid-day trading on Wednesday, hitting $4.07. 6,496,749 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’s 50-day moving average is $4.11 and its 200-day moving average is $4.34. The company’s market cap is $4.658 billion.
Kinross Gold (NYSE:KGC) last announced its earnings results on Wednesday, July 30th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts expect that Kinross Gold will post $0.16 EPS 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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