Kinross Gold (NYSE:KGC) Rating Lowered to Buy at Wall Street Zen

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

Other equities research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Scotiabank raised their price objective on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. 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. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Finally, Cormark downgraded Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.81.

Kinross Gold Stock Performance

Shares of KGC stock opened at $34.42 on Friday. The stock has a market cap of $41.30 billion, a P/E ratio of 24.07, a P/E/G ratio of 0.34 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. The company has a fifty day moving average price of $31.54 and a two-hundred day moving average price of $25.98. Kinross Gold has a one year low of $10.32 and a one year high of $39.11.

Institutional Trading of Kinross Gold

Several hedge funds have recently added to or reduced their stakes in KGC. AQR Capital Management LLC grew its holdings in Kinross Gold by 35.1% in the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock valued at $887,000 after buying an additional 18,287 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Kinross Gold in the first quarter valued at about $158,000. Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold in the second quarter valued at about $167,000. US Bancorp DE grew its stake in shares of Kinross Gold by 2.0% in the second quarter. US Bancorp DE now owns 55,320 shares of the mining company’s stock valued at $865,000 after acquiring an additional 1,103 shares in the last quarter. Finally, IFP Advisors Inc increased its position in Kinross Gold by 19.1% during the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after acquiring an additional 835 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

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.