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

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

KGC has been the topic of several other reports. Scotiabank increased their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings downgraded shares of Kinross Gold from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday. TD Securities decreased their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, UBS Group decreased their price target on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Price Performance

Shares of KGC opened at $28.27 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold has a 1-year low of $14.35 and a 1-year high of $39.11. The firm has a market cap of $33.71 billion, a PE ratio of 11.98, a P/E/G ratio of 1.01 and a beta of 0.73. The firm has a fifty day simple moving average of $30.80 and a two-hundred day simple moving average of $30.62.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the firm earned $0.30 earnings per share. The company’s quarterly revenue was up 60.8% on a year-over-year basis. On average, equities analysts anticipate that Kinross Gold will post 2.92 EPS for the current year.

Institutional Trading of Kinross Gold

Institutional investors and hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Kinross Gold during the 4th quarter valued at $26,000. Financial Management Professionals Inc. purchased a new position in Kinross Gold during the fourth quarter valued at $26,000. Ascentis Independent Advisors purchased a new position in Kinross Gold during the first quarter valued at $29,000. Caitlin John LLC purchased a new position in Kinross Gold during the third quarter valued at $26,000. Finally, Virtus Advisers LLC purchased a new position in Kinross Gold during the third quarter valued at $28,000. 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.