Kinross Gold (NYSE:KGC) (TSE:K)‘s stock had its “outperform” rating restated by investment analysts at Raymond James in a report issued on Tuesday, BayStreet.CA reports. They currently have a $6.00 price target on the mining company’s stock. Raymond James’ price target would indicate a potential upside of 31.87% from the stock’s current price.
A number of other research analysts also recently commented on the stock. Barclays reaffirmed an “equal weight” rating and set a $5.00 price objective on shares of Kinross Gold in a research note on Tuesday, October 15th. They noted that the move was a valuation call. CIBC set a $6.00 target price on shares of Kinross Gold and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Citigroup boosted their target price on shares of Kinross Gold from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Beacon Securities reaffirmed a “buy” rating on shares of Kinross Gold in a research report on Tuesday, October 8th. Finally, ValuEngine downgraded shares of Kinross Gold from a “sell” rating to a “strong sell” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.77.
Shares of NYSE:KGC opened at $4.55 on Tuesday. The company has a market cap of $5.43 billion, a P/E ratio of 45.50 and a beta of -0.17. The business has a fifty day simple moving average of $4.49 and a 200-day simple moving average of $4.34. Kinross Gold has a 52 week low of $2.76 and a 52 week high of $5.47. The company has a quick ratio of 0.99, a current ratio of 2.71 and a debt-to-equity ratio of 0.39.
Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, November 6th. The mining company reported $0.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Kinross Gold had a return on equity of 6.02% and a net margin of 5.15%. The firm had revenue of $877.10 million for the quarter, compared to the consensus estimate of $908.75 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. Sell-side analysts expect that Kinross Gold will post 0.31 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in KGC. Cerebellum GP LLC purchased a new stake in shares of Kinross Gold in the third quarter worth about $25,000. Staley Capital Advisers Inc. acquired a new position in Kinross Gold during the 2nd quarter worth approximately $50,000. Corient Capital Partners LLC purchased a new position in Kinross Gold in the 3rd quarter worth approximately $55,000. Private Advisor Group LLC boosted its holdings in Kinross Gold by 36.5% in the 2nd quarter. Private Advisor Group LLC now owns 14,386 shares of the mining company’s stock worth $56,000 after acquiring an additional 3,845 shares during the period. Finally, US Bancorp DE boosted its holdings in Kinross Gold by 25.7% in the 2nd quarter. US Bancorp DE now owns 18,111 shares of the mining company’s stock worth $70,000 after acquiring an additional 3,703 shares during the period. 52.22% of the stock is currently owned by hedge funds and other institutional investors.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.
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