Kinross Gold (NYSE:KGC) Raised to “Hold” at Zacks Research

Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, July 31st. Jefferies Financial Group reduced their price target on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Weiss Ratings lowered shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Finally, Scotiabank decreased their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.43.

Kinross Gold Trading Down 2.3%

NYSE:KGC opened at $30.18 on Monday. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. Kinross Gold has a 1-year low of $21.94 and a 1-year high of $39.11. The firm has a market capitalization of $35.74 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 0.83 and a beta of 0.84. The business’s 50-day moving average price is $26.65 and its two-hundred day moving average price is $28.92.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. On average, equities analysts expect that Kinross Gold will post 2.61 earnings per share for the current year.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Kinross Gold during the 4th quarter worth about $518,656,000. Man Group plc acquired a new stake in shares of Kinross Gold in the 2nd quarter valued at about $298,152,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Kinross Gold in the second quarter valued at about $264,652,000. Legal & General Group Plc bought a new stake in shares of Kinross Gold in the second quarter valued at about $244,762,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Kinross Gold during the second quarter worth about $222,974,000. 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.