Kinross Gold Corporation (NYSE:KGC) (TSE:K) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Kinross has outperformed the industry it belongs to over a year. Kinross is making steady progress in advancing the projects that give it a strong growth profile among leading gold producers. The Tasiast expansion is expected to significantly contribute to the company’s future growth. The company also remains focused on managing costs and improving cash flow. However, Kinross remains exposed to a sluggish global economy and volatile gold prices. The company needs to improve its reserve base significantly for future growth. “

Other equities analysts have also recently issued research reports about the stock. National Bank Financial reissued a “sector perform market weight” rating on shares of Kinross Gold Corporation in a research report on Thursday, August 3rd. BidaskClub cut shares of Kinross Gold Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Berenberg Bank reissued a “hold” rating and issued a $4.60 price target on shares of Kinross Gold Corporation in a research report on Friday, August 4th. Royal Bank Of Canada set a $5.00 price target on shares of Kinross Gold Corporation and gave the company a “buy” rating in a research report on Tuesday, July 18th. Finally, ValuEngine raised shares of Kinross Gold Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Kinross Gold Corporation has an average rating of “Hold” and a consensus price target of $5.17.

Shares of Kinross Gold Corporation (NYSE:KGC) opened at 4.28 on Friday. Kinross Gold Corporation has a 12-month low of $2.88 and a 12-month high of $4.91. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 101.90 and a beta of 0.12. The firm’s 50-day moving average price is $4.43 and its 200-day moving average price is $4.09.

Kinross Gold Corporation (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, August 2nd. The mining company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. Kinross Gold Corporation had a net margin of 1.54% and a return on equity of 3.63%. The company had revenue of $868.60 million during the quarter, compared to analysts’ expectations of $825.02 million. During the same quarter last year, the company posted ($0.01) EPS. The firm’s revenue was down .9% compared to the same quarter last year. On average, analysts forecast that Kinross Gold Corporation will post $0.11 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rockshelter Capital Management LLC lifted its position in Kinross Gold Corporation by 1.6% in the second quarter. Rockshelter Capital Management LLC now owns 987,575 shares of the mining company’s stock valued at $4,019,000 after acquiring an additional 15,925 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Kinross Gold Corporation by 6.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,764 shares of the mining company’s stock valued at $146,000 after acquiring an additional 2,116 shares during the last quarter. Gotham Asset Management LLC lifted its position in Kinross Gold Corporation by 53.2% in the second quarter. Gotham Asset Management LLC now owns 41,487 shares of the mining company’s stock valued at $169,000 after acquiring an additional 14,398 shares during the last quarter. Odey Asset Management Group Ltd lifted its position in Kinross Gold Corporation by 11.1% in the second quarter. Odey Asset Management Group Ltd now owns 26,306,662 shares of the mining company’s stock valued at $107,068,000 after acquiring an additional 2,618,245 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Kinross Gold Corporation in the second quarter valued at $195,000. 59.56% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Corporation Company Profile

Kinross Gold Corporation is a 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. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.

Analyst Recommendations for Kinross Gold Corporation (NYSE:KGC)

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