Kinross Gold Corp. (NYSE:KGC) (TSE:K) was downgraded by equities researchers at Bank of America Corp. from a “buy” rating to a “neutral” rating in a report issued on Tuesday.

KGC has been the subject of several other research reports. RBC Capital Markets reiterated an “outperform” rating on shares of Kinross Gold Corp. in a research report on Tuesday, November 1st. Vetr raised shares of Kinross Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $5.63 price objective for the company in a research note on Monday, August 22nd. Zacks Investment Research raised shares of Kinross Gold Corp. from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research note on Monday, August 29th. Berenberg Bank assumed coverage on shares of Kinross Gold Corp. in a research note on Wednesday, September 7th. They issued a “hold” rating and a $4.60 price objective for the company. Finally, TD Securities reissued a “buy” rating and issued a $6.50 price objective (down previously from $7.00) on shares of Kinross Gold Corp. in a research note on Thursday, November 3rd. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $5.53.

Analyst Recommendations for Kinross Gold Corp. (NYSE:KGC)

Kinross Gold Corp. (NYSE:KGC) opened at 3.17 on Tuesday. Kinross Gold Corp. has a 52-week low of $1.31 and a 52-week high of $5.82. The stock’s market capitalization is $3.95 billion. The company’s 50-day moving average price is $3.70 and its 200 day moving average price is $4.55.

Kinross Gold Corp. (NYSE:KGC) last released its quarterly earnings results on Wednesday, November 2nd. The mining company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.05. The company earned $910.20 million during the quarter, compared to analyst estimates of $915.18 million. Kinross Gold Corp. had a positive return on equity of 1.23% and a negative net margin of 26.82%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) earnings per share. Equities analysts forecast that Kinross Gold Corp. will post $0.12 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Kinross Gold Corp. during the second quarter valued at about $71,098,000. AQR Capital Management LLC raised its position in Kinross Gold Corp. by 114.4% in the second quarter. AQR Capital Management LLC now owns 21,614,651 shares of the mining company’s stock valued at $105,518,000 after buying an additional 11,533,875 shares in the last quarter. FMR LLC raised its position in Kinross Gold Corp. by 454.7% in the second quarter. FMR LLC now owns 12,392,744 shares of the mining company’s stock valued at $60,815,000 after buying an additional 10,158,444 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Kinross Gold Corp. during the third quarter valued at about $24,778,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Kinross Gold Corp. by 143.8% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 9,252,278 shares of the mining company’s stock valued at $58,659,000 after buying an additional 5,456,845 shares in the last quarter. 60.71% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Bank of America Corp. Downgrades Kinross Gold Corp. (KGC) to Neutral” was reported by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this news story on another domain, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2016/11/24/bank-of-america-corp-downgrades-kinross-gold-corp-kgc-to-neutral.html.

About Kinross Gold Corp.

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.

5 Day Chart for NYSE:KGC

Receive News & Stock Ratings for Kinross Gold Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold Corp. and related stocks with our FREE daily email newsletter.