Kinross Gold (KGC) PT Lowered to $4.50

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Kinross Gold (NYSE:KGC) (TSE:K) had its price objective decreased by Raymond James from $5.00 to $4.50 in a research report released on Friday morning. Raymond James currently has an outperform rating on the mining company’s stock.

Several other research firms have also issued reports on KGC. TD Securities lowered Kinross Gold from an action list buy rating to a buy rating and lowered their price objective for the company from $6.00 to $5.50 in a research note on Saturday, July 14th. JPMorgan Chase & Co. lowered their price objective on Kinross Gold from $6.00 to $5.00 and set a neutral rating for the company in a research note on Monday, September 17th. Citigroup lowered their price objective on Kinross Gold from $4.00 to $3.25 and set a neutral rating for the company in a research note on Wednesday, August 29th. Credit Suisse Group set a $4.00 price objective on Kinross Gold and gave the company a hold rating in a research note on Tuesday, September 25th. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $3.50 price objective on shares of Kinross Gold in a research note on Friday, September 21st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $4.28.

Shares of NYSE:KGC traded down $0.07 during trading on Friday, hitting $2.59. The company had a trading volume of 14,953,706 shares, compared to its average volume of 15,140,013. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 18.50 and a beta of 0.22. Kinross Gold has a one year low of $2.51 and a one year high of $4.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.71 and a quick ratio of 1.88.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.05). The company had revenue of $753.90 million during the quarter, compared to the consensus estimate of $777.48 million. Kinross Gold had a net margin of 6.85% and a return on equity of 2.81%. Kinross Gold’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 earnings per share. As a group, analysts expect that Kinross Gold will post 0.16 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Regentatlantic Capital LLC increased its holdings in shares of Kinross Gold by 152.1% in the 2nd quarter. Regentatlantic Capital LLC now owns 28,135 shares of the mining company’s stock valued at $106,000 after acquiring an additional 16,975 shares during the period. GAM Holding AG lifted its holdings in shares of Kinross Gold by 17.7% in the 2nd quarter. GAM Holding AG now owns 225,404 shares of the mining company’s stock valued at $848,000 after buying an additional 33,850 shares during the period. FIL Ltd acquired a new position in shares of Kinross Gold in the 3rd quarter valued at about $104,000. Investec Asset Management LTD lifted its holdings in shares of Kinross Gold by 1.2% in the 2nd quarter. Investec Asset Management LTD now owns 4,096,170 shares of the mining company’s stock valued at $15,409,000 after buying an additional 48,060 shares during the period. Finally, Vanguard Capital Wealth Advisors acquired a new position in shares of Kinross Gold in the 2nd quarter valued at about $182,000. 53.65% of the stock is owned by hedge funds and other institutional investors.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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