Kinross Gold (NYSE:KGC) Raised to “Strong-Buy” at StockNews.com

Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

A number of other research firms also recently commented on KGC. CIBC increased their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank raised their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. BMO Capital Markets boosted their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group lifted their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.33.

Kinross Gold Trading Down 2.0 %

KGC opened at $9.20 on Tuesday. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $10.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The stock has a market capitalization of $11.31 billion, a PE ratio of 25.56, a P/E/G ratio of 0.55 and a beta of 1.23. The firm’s fifty day moving average price is $8.95 and its 200 day moving average price is $7.69.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. As a group, research analysts expect that Kinross Gold will post 0.58 EPS for the current fiscal year.

Institutional Trading of Kinross Gold

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of Kinross Gold in the fourth quarter valued at approximately $320,000. Truist Financial Corp boosted its position in Kinross Gold by 68.6% during the 4th quarter. Truist Financial Corp now owns 47,457 shares of the mining company’s stock worth $287,000 after acquiring an additional 19,317 shares during the period. SCP Investment LP grew its stake in shares of Kinross Gold by 255.3% in the fourth quarter. SCP Investment LP now owns 66,800 shares of the mining company’s stock worth $379,000 after purchasing an additional 48,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Kinross Gold by 33.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,319,428 shares of the mining company’s stock valued at $32,183,000 after purchasing an additional 1,336,756 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Kinross Gold by 29.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 39,203 shares of the mining company’s stock valued at $237,000 after purchasing an additional 8,953 shares during the period. 63.69% of the stock is currently owned by institutional investors.

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.