BMO Capital Markets Upgrades Kinross Gold Co. (K) to Outperform

Kinross Gold Co. (TSE:K) (NYSE:KGC) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, May 29th. The firm currently has a C$5.00 price target on the stock, up from their previous price target of C$3.75. BMO Capital Markets’ price objective would suggest a potential downside of 7.92% from the stock’s current price.

A number of other research firms have also recently weighed in on K. Scotiabank reaffirmed a “sector perform” rating and set a C$4.00 price objective on shares of Kinross Gold in a research report on Friday, May 5th. TD Securities raised their price target on shares of Kinross Gold from C$5.00 to C$5.50 and gave the company a “buy” rating in a research report on Friday, May 5th. ValuEngine lowered shares of Kinross Gold from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Royal Bank Of Canada raised their price objective on shares of Kinross Gold to C$6.50 and gave the company an “outperform” rating in a report on Tuesday, May 9th. Finally, CIBC upgraded shares of Kinross Gold from a “neutral” rating to an “outperform” rating and set a C$4.75 price objective on the stock in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of C$6.03.

Analyst Recommendations for Kinross Gold (TSE:K)

Kinross Gold (TSE:K) traded up 1.12% during trading on Monday, hitting $5.43. The stock had a trading volume of 2,038,126 shares. The firm’s market cap is $6.77 billion. Kinross Gold has a 52-week low of $3.87 and a 52-week high of $7.56. The company has a 50-day moving average of $5.58 and a 200 day moving average of $4.91.

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In related news, insider Claude J.S. Schimper sold 14,500 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of C$5.69, for a total transaction of C$82,505.00. Also, Director John A. Brough sold 13,796 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of C$4.98, for a total transaction of C$68,704.08. In the last three months, insiders sold 35,634 shares of company stock valued at $184,021.

About Kinross Gold

Kinross Gold Corporation is a gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.

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