Kinross Gold Corporation (NYSE:KGC) Receives $27.56 Average Price Target from Analysts

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have been given a consensus recommendation of “Buy” by the fifteen analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $27.5625.

Several brokerages have weighed in on KGC. Cormark downgraded Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday. Zacks Research upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Raymond James Financial upped their price objective on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, CIBC upped their price objective on Kinross Gold from $22.00 to $36.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th.

Institutional Trading of Kinross Gold

A number of institutional investors and hedge funds have recently made changes to their positions in KGC. Norges Bank acquired a new stake in shares of Kinross Gold during the 2nd quarter worth $389,025,000. Boston Partners increased its holdings in Kinross Gold by 36.5% in the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock valued at $632,797,000 after purchasing an additional 12,705,061 shares in the last quarter. Man Group plc increased its holdings in Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after purchasing an additional 5,411,491 shares in the last quarter. Bank of America Corp DE increased its holdings in Kinross Gold by 81.2% in the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after purchasing an additional 3,617,320 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in Kinross Gold by 127.2% in the 2nd quarter. AustralianSuper Pty Ltd now owns 6,107,913 shares of the mining company’s stock valued at $95,509,000 after purchasing an additional 3,419,440 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Trading Down 2.5%

Shares of KGC opened at $23.25 on Thursday. The stock has a fifty day moving average of $23.47 and a two-hundred day moving average of $18.45. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The company has a market capitalization of $28.14 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 0.42 and a beta of 0.64. Kinross Gold has a fifty-two week low of $8.99 and a fifty-two week high of $27.84.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.11. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.Kinross Gold’s revenue was up 41.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. As a group, analysts forecast that Kinross Gold will post 0.81 EPS for the current year.

Kinross Gold Company Profile

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.