Kinross Gold (KGC) Hits New 52-Week Low at $2.63

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares reached a new 52-week low on Thursday . The company traded as low as $2.63 and last traded at $2.63, with a volume of 779956 shares trading hands. The stock had previously closed at $2.76.

A number of research firms recently weighed in on KGC. Barclays began coverage on shares of Kinross Gold in a research note on Wednesday, October 10th. They set an “overweight” rating and a $4.00 target price on the stock. Zacks Investment Research cut shares of Kinross Gold from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. ValuEngine upgraded shares of Kinross Gold from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Deutsche Bank set a $4.00 price target on shares of Kinross Gold and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Finally, Credit Suisse Group set a $4.00 price target on shares of Kinross Gold and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Kinross Gold has an average rating of “Hold” and an average price target of $4.33.

The company has a market capitalization of $3.25 billion, a P/E ratio of 18.86 and a beta of 0.17. The company has a current ratio of 3.71, a quick ratio of 1.88 and a debt-to-equity ratio of 0.37.



Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, August 1st. The mining company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $775.00 million for the quarter, compared to analysts’ expectations of $803.96 million. Kinross Gold had a net margin of 11.67% and a return on equity of 5.73%. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 EPS. Analysts expect that Kinross Gold Co. will post 0.16 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in KGC. Van ECK Associates Corp raised its position in shares of Kinross Gold by 10.1% during the 2nd quarter. Van ECK Associates Corp now owns 84,161,798 shares of the mining company’s stock valued at $316,448,000 after buying an additional 7,706,903 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Kinross Gold by 14.1% during the 2nd quarter. Renaissance Technologies LLC now owns 54,555,299 shares of the mining company’s stock valued at $205,128,000 after buying an additional 6,743,300 shares in the last quarter. Ruffer LLP raised its position in shares of Kinross Gold by 15.6% during the 2nd quarter. Ruffer LLP now owns 40,874,922 shares of the mining company’s stock valued at $153,931,000 after buying an additional 5,529,141 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Kinross Gold by 53.6% during the 2nd quarter. Toronto Dominion Bank now owns 6,597,278 shares of the mining company’s stock valued at $24,950,000 after buying an additional 2,302,251 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its position in shares of Kinross Gold by 2.0% during the 2nd quarter. Donald Smith & CO. Inc. now owns 51,291,334 shares of the mining company’s stock valued at $192,855,000 after buying an additional 1,025,062 shares in the last quarter. Institutional investors and hedge funds own 53.72% of the company’s stock.

Kinross Gold Company Profile (NYSE:KGC)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.

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