Citigroup Inc. Reaffirms Neutral Rating for Kinross Gold Corp. (KGC)
Kinross Gold Corp. (NYSE:KGC)‘s stock had its “neutral” rating reiterated by Citigroup Inc. in a research note issued to investors on Monday.
KGC has been the subject of a number of other reports. BMO Capital Markets reiterated a “buy” rating and set a $6.50 target price on shares of Kinross Gold Corp. in a research report on Thursday, July 28th. Vetr upgraded Kinross Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $5.63 target price for the company in a research report on Monday, August 22nd. Zacks Investment Research upgraded Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Thursday, August 4th. HSBC reiterated a “buy” rating on shares of Kinross Gold Corp. in a research report on Thursday, July 7th. Finally, Berenberg Bank initiated coverage on Kinross Gold Corp. in a research report on Wednesday, September 7th. They set a “hold” rating and a $4.60 target price for the company. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $5.43.
Kinross Gold Corp. (NYSE:KGC) traded up 0.28% during midday trading on Monday, hitting $3.63. The stock had a trading volume of 2,857,455 shares. The firm has a 50-day moving average price of $4.09 and a 200-day moving average price of $4.69. The firm’s market capitalization is $4.52 billion. Kinross Gold Corp. has a 1-year low of $1.31 and a 1-year high of $5.82.
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Kinross Gold Corp. (NYSE:KGC) last issued its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.02. Kinross Gold Corp. had a negative net margin of 29.41% and a negative return on equity of 2.35%. The firm earned $876.40 million during the quarter, compared to analyst estimates of $841.98 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Kinross Gold Corp. will post $0.11 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in KGC. Concert Wealth Management Inc. boosted its stake in Kinross Gold Corp. by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 21,675 shares of the mining company’s stock valued at $106,000 after buying an additional 1,675 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Kinross Gold Corp. during the second quarter valued at approximately $169,000. Bayesian Capital Management LP acquired a new stake in Kinross Gold Corp. during the first quarter valued at approximately $121,000. IFP Advisors Inc boosted its stake in Kinross Gold Corp. by 52.9% in the second quarter. IFP Advisors Inc now owns 42,620 shares of the mining company’s stock valued at $208,000 after buying an additional 14,750 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Kinross Gold Corp. during the second quarter valued at approximately $216,000. 62.06% of the stock is owned by institutional investors and hedge funds.
Kinross Gold Corp. Company Profile
Kinross Gold Corporation is gold mining company. The Company 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. Its segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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