ValuEngine Lowers Kinross Gold (NYSE:KGC) to Hold

ValuEngine cut shares of Kinross Gold (NYSE:KGC) (TSE:K) from a buy rating to a hold rating in a research note issued to investors on Wednesday, ValuEngine reports.

Several other equities research analysts have also recently weighed in on KGC. JPMorgan Chase & Co. cut shares of Kinross Gold from a neutral rating to an underweight rating and set a $3.20 price target for the company. in a research report on Thursday, May 30th. Canaccord Genuity reissued a buy rating on shares of Kinross Gold in a research report on Friday, July 19th. Royal Bank of Canada reissued a hold rating and set a $4.25 price target on shares of Kinross Gold in a research report on Sunday, August 11th. Citigroup increased their price target on shares of Kinross Gold from $4.00 to $5.00 and gave the company a neutral rating in a research report on Wednesday. Finally, Deutsche Bank set a $4.00 price target on shares of Kinross Gold and gave the company a hold rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $4.02.

KGC traded down $0.10 during trading on Wednesday, hitting $4.73. 18,356,100 shares of the stock traded hands, compared to its average volume of 12,220,450. The firm has a market capitalization of $6.02 billion, a P/E ratio of 47.30 and a beta of -0.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.88 and a quick ratio of 1.16. The firm has a 50-day moving average of $4.80 and a 200 day moving average of $3.81. Kinross Gold has a 12-month low of $2.38 and a 12-month high of $5.32.



Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The business had revenue of $837.80 million during the quarter, compared to analysts’ expectations of $820.97 million. Kinross Gold had a net margin of 0.13% and a return on equity of 2.78%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. As a group, equities analysts predict that Kinross Gold will post 0.26 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of KGC. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Kinross Gold in the 1st quarter worth about $33,000. Janus Henderson Group PLC lifted its position in shares of Kinross Gold by 89.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,558,439 shares of the mining company’s stock worth $5,366,000 after purchasing an additional 736,943 shares during the period. Sigma Planning Corp purchased a new stake in shares of Kinross Gold in the 1st quarter worth about $52,000. Cetera Advisor Networks LLC purchased a new stake in shares of Kinross Gold in the 1st quarter worth about $69,000. Finally, Mn Services Vermogensbeheer B.V. lifted its position in shares of Kinross Gold by 6.3% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 215,004 shares of the mining company’s stock worth $989,000 after purchasing an additional 12,800 shares during the period. 54.86% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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