Kinross Gold (NYSE:KGC) Rating Increased to Strong-Buy at Wall Street Zen

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

A number of other equities research analysts have also commented on the company. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a report on Wednesday, February 4th. UBS Group set a $43.00 price target on shares of Kinross Gold in a report on Friday, January 30th. Desjardins assumed coverage on shares of Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. Finally, Cormark cut shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.81.

Kinross Gold Stock Down 0.1%

Shares of NYSE:KGC opened at $33.42 on Friday. The company has a 50 day moving average price of $32.18 and a two-hundred day moving average price of $26.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.68 and a current ratio of 2.35. The company has a market capitalization of $40.10 billion, a PE ratio of 17.05, a PEG ratio of 0.36 and a beta of 0.74. Kinross Gold has a 52 week low of $10.32 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm’s revenue was up 42.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. Analysts forecast that Kinross Gold will post 0.81 earnings per share for the current year.

Institutional Trading of Kinross Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC increased its holdings in shares of Kinross Gold by 35.1% during the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after acquiring an additional 18,287 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Kinross Gold in the first quarter valued at $158,000. Sivia Capital Partners LLC bought a new position in shares of Kinross Gold in the second quarter valued at about $167,000. D.A. Davidson & CO. lifted its stake in shares of Kinross Gold by 9.6% during the 2nd quarter. D.A. Davidson & CO. now owns 63,483 shares of the mining company’s stock worth $992,000 after buying an additional 5,572 shares during the last quarter. Finally, Carnegie Investment Counsel bought a new stake in shares of Kinross Gold during the 2nd quarter worth about $213,000. 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.