Jefferies Group LLC Analysts Give Kinross Gold Corporation (KGC) a $4.00 Price Target
Kinross Gold Corporation (NYSE:KGC) (TSE:K) has been assigned a $4.00 price target by stock analysts at Jefferies Group LLC in a research report issued to clients and investors on Thursday. The firm currently has a “hold” rating on the mining company’s stock. Jefferies Group LLC’s price target would indicate a potential downside of 3.85% from the company’s previous close.
KGC has been the topic of several other reports. TD Securities lifted their price target on shares of Kinross Gold Corporation from $5.50 to $6.00 and gave the stock an “action list buy” rating in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Kinross Gold Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. National Bank Financial reissued a “sector perform market weight” rating on shares of Kinross Gold Corporation in a research note on Thursday, August 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Kinross Gold Corporation in a research note on Friday, August 18th. Finally, Berenberg Bank reissued a “hold” rating and set a $4.60 price target on shares of Kinross Gold Corporation in a research note on Friday, August 4th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $5.19.
Kinross Gold Corporation (NYSE:KGC) traded down 3.26% during midday trading on Thursday, reaching $4.16. 9,415,975 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $4.43 and a 200 day moving average price of $4.15. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 104.00 and a beta of 0.12. Kinross Gold Corporation has a 52 week low of $2.88 and a 52 week high of $4.91.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, August 2nd. The mining company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $868.60 million for the quarter, compared to the consensus estimate of $825.02 million. Kinross Gold Corporation had a net margin of 1.54% and a return on equity of 3.63%. Kinross Gold Corporation’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted ($0.01) earnings per share. Analysts anticipate that Kinross Gold Corporation will post $0.11 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in KGC. Odey Asset Management Group Ltd boosted its holdings in Kinross Gold Corporation by 11.1% in the second 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 in the last quarter. Vanguard Group Inc. boosted its holdings in Kinross Gold Corporation by 4.6% in the second quarter. Vanguard Group Inc. now owns 29,071,742 shares of the mining company’s stock valued at $118,322,000 after acquiring an additional 1,276,166 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in Kinross Gold Corporation in the second quarter valued at $5,152,000. Candriam Luxembourg S.C.A. boosted its holdings in Kinross Gold Corporation by 52.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 3,143,479 shares of the mining company’s stock valued at $12,756,000 after acquiring an additional 1,084,097 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Kinross Gold Corporation by 57.2% in the second quarter. Canada Pension Plan Investment Board now owns 2,798,233 shares of the mining company’s stock valued at $11,369,000 after acquiring an additional 1,018,533 shares in the last quarter. Institutional investors and hedge funds own 59.55% 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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