Kinross Gold Corporation (KGC) Given “Outperform” Rating at Royal Bank Of Canada
Kinross Gold Corporation (NYSE:KGC) (TSE:K)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research report issued on Thursday.
KGC has been the topic of several other research reports. Citigroup Inc. raised Kinross Gold Corporation from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $3.25 to $4.75 in a research note on Friday, September 1st. Raymond James Financial, Inc. reissued an “ourperform” rating and set a $6.00 price target on shares of Kinross Gold Corporation in a research note on Thursday, June 15th. Jefferies Group LLC reissued a “hold” rating and set a $3.75 price target (down previously from $4.00) on shares of Kinross Gold Corporation in a research note on Friday, July 14th. ValuEngine raised Kinross Gold Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, TD Securities raised Kinross Gold Corporation to a “buy” rating in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Kinross Gold Corporation currently has a consensus rating of “Hold” and an average price target of $5.16.
Kinross Gold Corporation (KGC) traded up 4.49% on Thursday, hitting $4.89. The stock had a trading volume of 14,684,072 shares. The company has a market cap of $6.10 billion, a P/E ratio of 116.43 and a beta of 0.18. The firm’s 50-day moving average is $4.26 and its 200-day moving average is $3.94. Kinross Gold Corporation has a 52-week low of $2.88 and a 52-week high of $4.91. Kinross Gold Corporation also was the target of unusually large options trading on Tuesday. Investors bought 12,822 put options on the stock. This is an increase of approximately 1,580% compared to the typical daily volume of 763 put options.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, August 2nd. The mining company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The business had revenue of $868.60 million for the quarter, compared to analyst estimates of $825.02 million. Kinross Gold Corporation had a return on equity of 3.63% and a net margin of 1.54%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) EPS. Equities research analysts anticipate that Kinross Gold Corporation will post $0.10 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. Rockshelter Capital Management LLC raised its holdings in Kinross Gold Corporation by 1.6% in the 2nd quarter. Rockshelter Capital Management LLC now owns 987,575 shares of the mining company’s stock valued at $4,019,000 after acquiring an additional 15,925 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Kinross Gold Corporation by 6.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 35,764 shares of the mining company’s stock valued at $146,000 after acquiring an additional 2,116 shares during the last quarter. Gotham Asset Management LLC raised its holdings in Kinross Gold Corporation by 53.2% in the 2nd quarter. Gotham Asset Management LLC now owns 41,487 shares of the mining company’s stock valued at $169,000 after acquiring an additional 14,398 shares during the last quarter. Odey Asset Management Group Ltd raised its holdings in Kinross Gold Corporation by 11.1% in the 2nd quarter. Odey Asset Management Group Ltd now owns 26,306,662 shares of the mining company’s stock valued at $107,068,000 after acquiring an additional 2,618,245 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Kinross Gold Corporation in the 2nd quarter valued at $195,000. Institutional investors own 59.56% 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.
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