ValuEngine Downgrades Kinross Gold (NYSE:KGC) to Strong Sell

Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday, ValuEngine reports.

Other analysts also recently issued reports about the stock. Barclays reaffirmed an “equal weight” rating and set a $5.00 price objective on shares of Kinross Gold in a report on Tuesday, October 15th. They noted that the move was a valuation call. Royal Bank of Canada lifted their price objective on shares of Kinross Gold from $5.50 to $6.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Citigroup lifted their price objective on shares of Kinross Gold from $4.00 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Raymond James reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Kinross Gold in a report on Friday, August 2nd. Finally, Beacon Securities reaffirmed a “buy” rating on shares of Kinross Gold in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Kinross Gold presently has a consensus rating of “Hold” and a consensus price target of $4.77.

Shares of NYSE KGC traded down $0.07 during mid-day trading on Friday, reaching $4.17. 12,842,134 shares of the company were exchanged, compared to its average volume of 12,573,919. Kinross Gold has a 52 week low of $2.38 and a 52 week high of $5.47. The company has a quick ratio of 1.16, a current ratio of 2.88 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $5.99 billion, a PE ratio of 41.70 and a beta of -0.05. The company’s 50 day moving average price is $4.79 and its 200 day moving average price is $4.20.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, November 6th. The mining company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. Kinross Gold had a net margin of 0.13% and a return on equity of 2.78%. The company had revenue of $877.10 million during the quarter, compared to the consensus estimate of $908.75 million. During the same period in the previous year, the firm posted ($0.04) EPS. The firm’s revenue was up 16.3% compared to the same quarter last year. On average, sell-side analysts predict that Kinross Gold will post 0.31 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. United Capital Financial Advisers LLC lifted its stake in Kinross Gold by 13.2% in the second quarter. United Capital Financial Advisers LLC now owns 22,514 shares of the mining company’s stock worth $87,000 after purchasing an additional 2,628 shares during the last quarter. Virginia Retirement Systems ET AL lifted its stake in Kinross Gold by 1.4% in the third quarter. Virginia Retirement Systems ET AL now owns 220,900 shares of the mining company’s stock worth $1,018,000 after purchasing an additional 3,000 shares during the last quarter. US Bancorp DE lifted its stake in Kinross Gold by 25.7% in the second quarter. US Bancorp DE now owns 18,111 shares of the mining company’s stock worth $70,000 after purchasing an additional 3,703 shares during the last quarter. Advisor Partners LLC lifted its stake in Kinross Gold by 17.6% in the second quarter. Advisor Partners LLC now owns 25,351 shares of the mining company’s stock worth $98,000 after purchasing an additional 3,795 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in Kinross Gold by 36.5% in the second quarter. Private Advisor Group LLC now owns 14,386 shares of the mining company’s stock worth $56,000 after purchasing an additional 3,845 shares during the last quarter. 54.96% of the stock is owned by institutional investors and hedge funds.

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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