Kinross Gold (NYSE:KGC) Rating Reiterated by Raymond James

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Kinross Gold (NYSE:KGC) (TSE:K)‘s stock had its “outperform” rating restated by research analysts at Raymond James in a research note issued on Friday, BayStreet.CA reports. They currently have a $6.00 price target on the mining company’s stock. Raymond James’ target price suggests a potential upside of 43.88% from the company’s previous close. Raymond James also issued estimates for Kinross Gold’s Q4 2019 earnings at $0.12 EPS, FY2019 earnings at $0.28 EPS, Q1 2020 earnings at $0.09 EPS, Q2 2020 earnings at $0.09 EPS, Q3 2020 earnings at $0.09 EPS, Q4 2020 earnings at $0.10 EPS, FY2020 earnings at $0.37 EPS and FY2021 earnings at $0.45 EPS.

Several other equities research analysts have also commented on the stock. TD Securities boosted their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Canaccord Genuity restated a “buy” rating on shares of Kinross Gold in a research report on Friday, July 19th. ValuEngine lowered shares of Kinross Gold from a “sell” rating to a “strong sell” rating in a research report on Friday. Royal Bank of Canada boosted their target price on shares of Kinross Gold from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research report on Monday, September 23rd. Finally, Barclays restated an “equal weight” rating and set a $5.00 target price on shares of Kinross Gold in a research report on Tuesday, October 15th. They noted that the move was a valuation call. 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. Kinross Gold has an average rating of “Hold” and a consensus target price of $4.77.

NYSE:KGC traded down $0.07 during midday trading on Friday, reaching $4.17. The stock had a trading volume of 12,842,134 shares, compared to its average volume of 12,573,919. The firm has a fifty day simple moving average of $4.79 and a two-hundred day simple moving average of $4.20. Kinross Gold has a 12-month low of $2.38 and a 12-month high of $5.47. The company has a quick ratio of 1.16, a current ratio of 2.88 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.99 billion, a P/E ratio of 41.70 and a beta of -0.05.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, November 6th. The mining company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. Kinross Gold had a net margin of 0.13% and a return on equity of 2.78%. The firm had revenue of $877.10 million for the quarter, compared to analyst estimates of $908.75 million. During the same period last year, the firm posted ($0.04) EPS. Kinross Gold’s quarterly revenue was up 16.3% on a year-over-year basis. On average, sell-side analysts anticipate that Kinross Gold will post 0.31 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Corient Capital Partners LLC purchased a new stake in shares of Kinross Gold in the 3rd quarter worth about $55,000. SG Americas Securities LLC purchased a new stake in shares of Kinross Gold in the 3rd quarter worth about $361,000. Symmetry Partners LLC purchased a new stake in shares of Kinross Gold in the 3rd quarter worth about $95,000. Atlas Capital Advisors LLC purchased a new stake in shares of Kinross Gold in the 3rd quarter worth about $224,000. Finally, Sigma Planning Corp purchased a new stake in shares of Kinross Gold in the 3rd quarter worth about $267,000. Institutional investors own 54.96% of the company’s stock.

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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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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