Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) gapped down prior to trading on Monday . The stock had previously closed at $3.98, but opened at $4.10. Kinross Gold shares last traded at $4.05, with a volume of 4831451 shares changing hands.
Several analysts have issued reports on the stock. Macquarie raised shares of Kinross Gold from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $4.40 to $4.37 in a report on Friday, November 10th. Royal Bank of Canada set a $5.00 price target on shares of Kinross Gold and gave the company a “buy” rating in a report on Monday, October 30th. Desjardins reaffirmed a “sell” rating on shares of Kinross Gold in a report on Monday, December 11th. BMO Capital Markets set a $5.00 price target on shares of Kinross Gold and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, Jefferies Group set a $4.00 price objective on shares of Kinross Gold and gave the company a “hold” rating in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Kinross Gold has an average rating of “Hold” and an average price target of $4.86.
The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.18 and a current ratio of 3.96. The firm has a market cap of $5,060.00, a P/E ratio of 45.44 and a beta of 0.24.
Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, November 8th. The mining company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $828.00 million for the quarter, compared to the consensus estimate of $787.40 million. Kinross Gold had a net margin of 3.28% and a return on equity of 2.58%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 earnings per share. sell-side analysts expect that Kinross Gold Co. will post 0.16 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc increased its position in Kinross Gold by 1.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,260,926 shares of the mining company’s stock worth $5,460,000 after purchasing an additional 13,788 shares during the last quarter. Aperio Group LLC increased its position in Kinross Gold by 14.4% during the fourth quarter. Aperio Group LLC now owns 217,670 shares of the mining company’s stock worth $940,000 after purchasing an additional 27,473 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Kinross Gold during the fourth quarter worth approximately $340,000. Highstreet Asset Management Inc. acquired a new position in Kinross Gold during the fourth quarter worth approximately $3,831,000. Finally, Jennison Associates LLC acquired a new position in Kinross Gold during the fourth quarter worth approximately $9,288,000. 55.84% of the stock is owned by hedge funds and other institutional investors.
Kinross Gold 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.
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