Kinross Gold (NYSE:KGC) Raised to “Strong-Buy” at Wall Street Zen

Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

A number of other brokerages have also weighed in on KGC. Desjardins began coverage on Kinross Gold in a research note on Friday, November 28th. They issued a “buy” rating on the stock. Raymond James Financial boosted their price objective on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Jefferies Financial Group restated a “buy” rating and issued a $33.00 price objective on shares of Kinross Gold in a research report on Sunday, December 7th. Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, CIBC boosted their price target on shares of Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $29.81.

Kinross Gold Stock Up 2.2%

Shares of NYSE:KGC opened at $28.60 on Friday. The firm has a fifty day moving average price of $25.76 and a two-hundred day moving average price of $21.28. The company has a market cap of $34.53 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 0.41 and a beta of 0.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. Kinross Gold has a one year low of $9.04 and a one year high of $29.23.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Analysts anticipate that Kinross Gold will post 0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors have recently made changes to their positions in KGC. Goldman Sachs Group Inc. boosted its holdings in Kinross Gold by 95.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock valued at $87,639,000 after acquiring an additional 3,398,687 shares during the period. Edmond DE Rothschild Holding S.A. increased its stake in Kinross Gold by 21.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock worth $4,076,000 after purchasing an additional 57,966 shares during the period. Schroder Investment Management Group lifted its position in Kinross Gold by 19.6% in the second quarter. Schroder Investment Management Group now owns 2,525,188 shares of the mining company’s stock valued at $39,469,000 after purchasing an additional 413,771 shares during the last quarter. Swiss National Bank boosted its stake in shares of Kinross Gold by 6.9% during the second quarter. Swiss National Bank now owns 3,739,218 shares of the mining company’s stock valued at $58,208,000 after purchasing an additional 241,600 shares during the period. Finally, Bayforest Capital Ltd grew its holdings in shares of Kinross Gold by 30.2% in the second quarter. Bayforest Capital Ltd now owns 55,218 shares of the mining company’s stock worth $863,000 after purchasing an additional 12,821 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.