Kinross Gold Corp. (NYSE:KGC) Receives Consensus Rating of “Buy” from Brokerages
Shares of Kinross Gold Corp. (NYSE:KGC) have received an average recommendation of “Buy” from the twenty-two ratings firms that are covering the company. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.67.
A number of equities analysts have weighed in on KGC shares. BMO Capital Markets reissued a “buy” rating and set a $6.50 price objective on shares of Kinross Gold Corp. in a research note on Thursday, July 28th. Vetr upgraded Kinross Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $5.63 target price on the stock in a research report on Monday, August 22nd. Zacks Investment Research upgraded Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Thursday, August 4th. HSBC restated a “buy” rating on shares of Kinross Gold Corp. in a research report on Thursday, July 7th. Finally, Berenberg Bank began coverage on Kinross Gold Corp. in a research report on Wednesday, September 7th. They issued a “hold” rating and a $4.60 target price on the stock.
Kinross Gold Corp. (NYSE:KGC) traded up 0.24% during trading on Wednesday, hitting $4.23. The stock had a trading volume of 8,294,625 shares. The company’s market cap is $5.27 billion. Kinross Gold Corp. has a one year low of $1.31 and a one year high of $5.82. The firm has a 50 day moving average of $4.55 and a 200-day moving average of $4.64.
Kinross Gold Corp. (NYSE:KGC) last released its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.02. The company had revenue of $876.40 million for the quarter, compared to analyst estimates of $841.98 million. Kinross Gold Corp. had a negative return on equity of 2.35% and a negative net margin of 29.41%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm posted ($0.01) EPS. Equities analysts anticipate that Kinross Gold Corp. will post $0.10 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in Kinross Gold Corp. by 52.9% in the second quarter. IFP Advisors Inc now owns 42,620 shares of the mining company’s stock valued at $208,000 after buying an additional 14,750 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Kinross Gold Corp. during the second quarter worth about $653,000. Hillsdale Investment Management Inc. boosted its stake in shares of Kinross Gold Corp. by 16.1% in the second quarter. Hillsdale Investment Management Inc. now owns 1,933,700 shares of the mining company’s stock worth $9,480,000 after buying an additional 268,400 shares during the period. Fiera Capital Corp purchased a new stake in shares of Kinross Gold Corp. during the second quarter worth about $2,884,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Kinross Gold Corp. during the second quarter worth about $536,000. 62.06% of the stock is owned by institutional investors and hedge funds.
Kinross Gold Corp. Company Profile
Kinross Gold Corporation is gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. Its segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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