Kinross Gold Corporation (NYSE:KGC) (TSE:K) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “Kinross has outperformed the industry it belongs to over a year. Kinross is making steady progress in advancing the projects that give it a strong growth profile among leading gold producers. The Tasiast expansion is expected to significantly contribute to the company’s future growth. The company also remains focused on managing costs and improving cash flow. However, Kinross remains exposed to a sluggish global economy and volatile gold prices. The company needs to improve its reserve base significantly for future growth. “

A number of other research firms have also recently issued reports on KGC. BidaskClub upgraded shares of Kinross Gold Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. ValuEngine upgraded shares of Kinross Gold Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. TD Securities upped their price objective on shares of Kinross Gold Corporation from $5.50 to $6.00 and gave the stock an “action list buy” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $5.00 price objective on shares of Kinross Gold Corporation in a research report on Thursday, August 24th. Finally, Berenberg Bank reiterated a “hold” rating and set a $4.60 price objective on shares of Kinross Gold Corporation in a research report on Friday, August 4th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.17.

Shares of Kinross Gold Corporation (NYSE KGC) traded up 1.18% during mid-day trading on Friday, hitting $4.29. 4,332,768 shares of the company were exchanged. The firm has a market capitalization of $5.35 billion, a P/E ratio of 102.14 and a beta of 0.12. Kinross Gold Corporation has a 12-month low of $2.88 and a 12-month high of $4.91. The company’s 50-day moving average price is $4.43 and its 200-day moving average price is $4.08.

Kinross Gold Corporation (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, August 2nd. The mining company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. The business had revenue of $868.60 million during the quarter, compared to analysts’ expectations of $825.02 million. Kinross Gold Corporation had a net margin of 1.54% and a return on equity of 3.63%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) EPS. Equities research analysts predict that Kinross Gold Corporation will post $0.11 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rockshelter Capital Management LLC increased its position 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 period. Raymond James Financial Services Advisors Inc. increased its position 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 period. Gotham Asset Management LLC increased its position 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 period. Odey Asset Management Group Ltd increased its position 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 period. Finally, Bayesian Capital Management LP acquired a new position in Kinross Gold Corporation in the 2nd quarter valued at approximately $195,000. Hedge funds and other institutional investors own 59.56% of the company’s stock.

Kinross Gold Corporation Company Profile

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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Analyst Recommendations for Kinross Gold Corporation (NYSE:KGC)

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