Kinross Gold (NYSE:KGC) Downgraded to “Buy” Rating by Wall Street Zen

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

KGC has been the subject of several other reports. UBS Group set a $43.00 target price on Kinross Gold in a research note on Friday, January 30th. Desjardins began coverage on Kinross Gold in a research note on Friday, November 28th. They set a “buy” rating for the company. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research note on Sunday, December 7th. Finally, Scotiabank lifted their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.81.

Kinross Gold Trading Up 0.5%

KGC opened at $36.93 on Monday. The firm has a market capitalization of $44.31 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.86 and a beta of 0.73. The firm’s 50 day moving average is $33.00 and its 200-day moving average is $27.31. Kinross Gold has a 52-week low of $10.32 and a 52-week high of $39.11. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08.

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

Hedge Funds Weigh In On Kinross Gold

Several large investors have recently added to or reduced their stakes in KGC. Caitlin John LLC bought a new stake in Kinross Gold during the third quarter valued at $26,000. V Square Quantitative Management LLC bought a new position in shares of Kinross Gold in the 4th quarter worth about $26,000. Financial Management Professionals Inc. acquired a new position in shares of Kinross Gold in the 4th quarter valued at about $26,000. Virtus Advisers LLC bought a new stake in shares of Kinross Gold during the 3rd quarter valued at about $28,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in Kinross Gold during the third quarter worth about $29,000. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Company Profile

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.