Kinross Gold Corporation (KGC) Downgraded by BidaskClub to Sell
Kinross Gold Corporation (NYSE:KGC) (TSE:K) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Monday.
KGC has been the subject of several other reports. BMO Capital Markets upgraded Kinross Gold Corporation from a “market perform” rating to a “buy” rating and raised their price target for the stock from $3.75 to $5.00 in a research report on Monday, May 29th. Zacks Investment Research cut Kinross Gold Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Jefferies Group LLC increased their price objective on Kinross Gold Corporation from $3.50 to $4.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. Scotiabank set a $4.00 price objective on Kinross Gold Corporation and gave the company a “sector perform” rating in a research note on Thursday, May 4th. Finally, Deutsche Bank AG reduced their price objective on Kinross Gold Corporation from $4.00 to $3.80 and set a “hold” rating on the stock in a research note on Tuesday, March 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Kinross Gold Corporation presently has a consensus rating of “Hold” and an average target price of $4.90.
Shares of Kinross Gold Corporation (KGC) traded down 0.856% during midday trading on Monday, reaching $4.055. The company’s stock had a trading volume of 6,004,729 shares. The company’s market capitalization is $5.06 billion. The stock’s 50-day moving average is $4.10 and its 200-day moving average is $3.67. Kinross Gold Corporation has a one year low of $2.88 and a one year high of $5.81. Kinross Gold Corporation also was the target of unusually large options trading on Friday. Stock traders bought 51,024 put options on the stock. This represents an increase of 595% compared to the average daily volume of 7,342 put options.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, May 2nd. The mining company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Kinross Gold Corporation had a positive return on equity of 2.13% and a negative net margin of 0.13%. The business had revenue of $796.10 million during the quarter, compared to analyst estimates of $790.06 million. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts expect that Kinross Gold Corporation will post $0.06 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Kinross Gold Corporation (KGC) Downgraded by BidaskClub to Sell” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/06/19/kinross-gold-corporation-kgc-downgraded-by-bidaskclub-to-sell.html.
A number of hedge funds have recently bought and sold shares of KGC. Van ECK Associates Corp boosted its stake in Kinross Gold Corporation by 15.9% in the first quarter. Van ECK Associates Corp now owns 101,123,425 shares of the mining company’s stock worth $354,943,000 after buying an additional 13,902,629 shares in the last quarter. Norges Bank acquired a new stake in Kinross Gold Corporation during the fourth quarter worth $39,751,000. Contrarius Investment Management Ltd boosted its stake in Kinross Gold Corporation by 63.8% in the first quarter. Contrarius Investment Management Ltd now owns 15,588,099 shares of the mining company’s stock worth $54,714,000 after buying an additional 6,071,866 shares in the last quarter. Hexavest Inc. boosted its stake in Kinross Gold Corporation by 117.8% in the first quarter. Hexavest Inc. now owns 5,923,356 shares of the mining company’s stock worth $20,804,000 after buying an additional 3,203,315 shares in the last quarter. Finally, Credit Agricole S A boosted its stake in Kinross Gold Corporation by 297.8% in the fourth quarter. Credit Agricole S A now owns 3,278,178 shares of the mining company’s stock worth $10,195,000 after buying an additional 2,454,052 shares in the last quarter. Institutional investors own 60.39% of the company’s stock.
About Kinross Gold Corporation
Kinross Gold Corporation is a 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. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
Receive News & Ratings for Kinross Gold Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold Corporation and related companies with MarketBeat.com's FREE daily email newsletter.