Freedom Capital Upgrades Kinross Gold (NYSE:KGC) to “Strong-Buy”

Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by stock analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research note on Wednesday, February 4th. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. Scotiabank boosted their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Stock Performance

Shares of KGC stock opened at $28.55 on Monday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $31.15 and a 200 day moving average price of $30.53. The company has a market cap of $34.05 billion, a P/E ratio of 12.10, a PEG ratio of 1.02 and a beta of 0.73. Kinross Gold has a 12 month low of $13.66 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Sell-side analysts predict that Kinross Gold will post 2.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kinross Gold

Several large investors have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its stake in Kinross Gold by 3.2% in the fourth quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock valued at $262,000 after acquiring an additional 292 shares in the last quarter. Turning Point Benefit Group Inc. boosted its stake in Kinross Gold by 6.6% in the fourth quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after acquiring an additional 393 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Kinross Gold by 2.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock valued at $636,000 after acquiring an additional 473 shares in the last quarter. Armstrong Advisory Group Inc. boosted its stake in Kinross Gold by 32.9% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock valued at $55,000 after acquiring an additional 483 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its stake in Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock valued at $629,000 after acquiring an additional 521 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.