Kinross Gold Corporation (KGC) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) from a hold rating to a sell rating in a research note issued to investors on Monday.

KGC has been the topic of a number of other research reports. BMO Capital Markets raised Kinross Gold Corporation from a market perform rating to a buy rating and raised their price target for the stock from $3.75 to $5.00 in a research report on Monday, May 29th. Zacks Investment Research lowered Kinross Gold Corporation from a hold rating to a sell rating in a research report on Tuesday, April 18th. Jefferies Group LLC raised their price target on Kinross Gold Corporation from $3.50 to $4.00 and gave the stock a hold rating in a research report on Wednesday, April 19th. Scotiabank set a $4.00 price target on Kinross Gold Corporation and gave the stock a sector perform rating in a research report on Thursday, May 4th. Finally, Deutsche Bank AG dropped their price target on Kinross Gold Corporation from $4.00 to $3.80 and set a hold rating on the stock in a research report on Tuesday, March 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Kinross Gold Corporation has a consensus rating of Hold and a consensus price target of $4.90.

Analyst Recommendations for Kinross Gold Corporation (NYSE:KGC)

Shares of Kinross Gold Corporation (NYSE:KGC) traded down 1.73% during trading on Monday, hitting $3.97. The stock had a trading volume of 5,753,789 shares. The firm has a 50 day moving average of $4.12 and a 200 day moving average of $3.68. The company’s market capitalization is $4.95 billion. Kinross Gold Corporation has a 1-year low of $2.88 and a 1-year high of $5.81.

Kinross Gold Corporation (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, May 2nd. The mining company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The company had revenue of $796.10 million for the quarter, compared to analyst estimates of $790.06 million. Kinross Gold Corporation had a positive return on equity of 2.13% and a negative net margin of 0.13%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts expect that Kinross Gold Corporation will post $0.06 EPS for the current fiscal year.

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A number of large investors have recently made changes to their positions in the stock. Credit Agricole S A raised its stake in shares of Kinross Gold Corporation by 297.8% in the fourth quarter. Credit Agricole S A now owns 3,278,178 shares of the mining company’s stock worth $10,195,000 after buying an additional 2,454,052 shares in the last quarter. Bank of Montreal Can increased its position in Kinross Gold Corporation by 6.9% in the first quarter. Bank of Montreal Can now owns 17,931,932 shares of the mining company’s stock worth $62,941,000 after buying an additional 1,159,776 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in Kinross Gold Corporation by 69.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 2,059,382 shares of the mining company’s stock worth $7,243,000 after buying an additional 844,509 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Kinross Gold Corporation by 10.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 4,303,484 shares of the mining company’s stock worth $13,446,000 after buying an additional 408,647 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in Kinross Gold Corporation by 3.1% in the first quarter. Capstone Asset Management Co. now owns 112,447 shares of the mining company’s stock worth $395,000 after buying an additional 3,420 shares in the last quarter. 60.39% of the stock is currently owned by institutional investors and hedge funds.

About Kinross Gold Corporation

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.

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