Kinross Gold (NYSE:KGC) Stock Rating Lowered by StockNews.com

Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently issued reports on the stock. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. CIBC raised their price target on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $11.63.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $12.17 on Friday. The stock’s 50-day simple moving average is $11.21 and its two-hundred day simple moving average is $10.27. Kinross Gold has a twelve month low of $5.67 and a twelve month high of $12.39. The firm has a market capitalization of $14.97 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.68 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, equities analysts anticipate that Kinross Gold will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KGC. PKO Investment Management Joint Stock Co bought a new stake in Kinross Gold in the 4th quarter worth $5,398,000. Comprehensive Money Management Services LLC purchased a new stake in shares of Kinross Gold during the fourth quarter worth about $312,000. Polar Asset Management Partners Inc. grew its stake in shares of Kinross Gold by 93.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 185,313 shares of the mining company’s stock worth $1,718,000 after purchasing an additional 89,313 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Kinross Gold by 21.2% in the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company’s stock worth $129,435,000 after purchasing an additional 2,438,445 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in Kinross Gold during the 4th quarter valued at about $758,000. 63.69% of the stock is 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.