Kinross Gold (NYSE:KGC) Coverage Initiated at BMO Capital Markets

Research analysts at BMO Capital Markets began coverage on shares of Kinross Gold (NYSE:KGC) (TSE:K) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set an “outperform” rating on the mining company’s stock.

A number of other analysts also recently issued reports on KGC. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Raymond James increased their price target on Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, April 4th. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. CIBC increased their target price on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 4th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Kinross Gold has a consensus rating of “Buy” and a consensus price target of $13.30.

Kinross Gold Price Performance

Kinross Gold stock opened at $14.80 on Wednesday. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 0.68 and a beta of 1.12. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. Kinross Gold has a 12 month low of $6.34 and a 12 month high of $15.34. The stock’s 50 day moving average is $12.06 and its 200-day moving average is $10.78.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. Equities research analysts expect that Kinross Gold will post 0.81 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Kinross Gold during the 4th quarter valued at approximately $280,697,000. Renaissance Technologies LLC grew its stake in shares of Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after buying an additional 3,224,455 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of Kinross Gold during the fourth quarter worth $2,506,000. Truist Financial Corp lifted its stake in shares of Kinross Gold by 48.2% in the 4th quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock valued at $2,800,000 after acquiring an additional 98,196 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Kinross Gold by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after acquiring an additional 828,456 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.