Kinross Gold (NYSE:KGC) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong-buy rating to a buy rating in a research report report published on Saturday.

A number of other equities research analysts also recently weighed in on the company. Scotiabank boosted their target price on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. UBS Group set a $43.00 price objective on Kinross Gold in a research report on Friday, January 30th. Cormark downgraded shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Desjardins assumed coverage on shares of Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. Finally, Jefferies Financial Group reissued a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a research note on Sunday, December 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.81.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $34.42 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The firm has a 50 day simple moving average of $31.70 and a 200 day simple moving average of $26.25. Kinross Gold has a fifty-two week low of $10.32 and a fifty-two week high of $39.11. The firm has a market cap of $41.30 billion, a P/E ratio of 24.07, a P/E/G ratio of 0.36 and a beta of 0.74.

Hedge Funds Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Kinross Gold by 35.1% in the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock valued at $887,000 after buying an additional 18,287 shares in the last quarter. Caxton Associates LLP acquired a new position in Kinross Gold in the first quarter valued at about $158,000. Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold in the second quarter worth about $167,000. US Bancorp DE increased its holdings in shares of Kinross Gold by 2.0% in the second quarter. US Bancorp DE now owns 55,320 shares of the mining company’s stock worth $865,000 after acquiring an additional 1,103 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Kinross Gold by 19.1% during the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after purchasing an additional 835 shares during the period. 63.69% of the stock is owned by institutional investors.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.