Kinross Gold (NYSE:KGC) Stock Rating Lowered by Zacks Research

Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

KGC has been the topic of several other reports. Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Jefferies Financial Group decreased their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 6th. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. UBS Group reduced their target price on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Royal Bank Of Canada lowered their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.31.

Kinross Gold Price Performance

Shares of KGC stock opened at $23.89 on Monday. The stock’s fifty day moving average is $26.94 and its 200-day moving average is $30.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The stock has a market capitalization of $28.34 billion, a PE ratio of 10.12, a PEG ratio of 0.62 and a beta of 0.78. Kinross Gold has a 52 week low of $15.10 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company posted $0.30 earnings per share. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. Equities research analysts expect that Kinross Gold will post 2.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Kinross Gold by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock valued at $1,433,345,000 after purchasing an additional 148,845 shares during the last quarter. Boston Partners boosted its holdings in Kinross Gold by 1.6% in the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after acquiring an additional 707,498 shares in the last quarter. FIL Ltd increased its stake in Kinross Gold by 4.8% during the 4th quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock valued at $820,969,000 after purchasing an additional 1,326,833 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Kinross Gold by 2.3% during the first quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock worth $779,677,000 after acquiring an additional 571,100 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Kinross Gold in the fourth quarter worth approximately $518,656,000. 63.69% of the stock is currently owned by institutional investors.

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.