Kinross Gold (NYSE:KGC) Rating Lowered to Buy at Wall Street Zen

Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

KGC has been the subject of several other research reports. Zacks Research upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. UBS Group upped their target price on Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Desjardins began coverage on Kinross Gold in a research note on Friday, November 28th. They issued a “buy” rating for the company. Raymond James Financial raised their price target on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Finally, CIBC upped their price objective on shares of Kinross Gold from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $29.81.

Kinross Gold Stock Up 1.1%

NYSE:KGC opened at $31.24 on Friday. The company’s 50-day simple moving average is $27.23 and its 200-day simple moving average is $22.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.68 and a current ratio of 2.83. Kinross Gold has a fifty-two week low of $10.01 and a fifty-two week high of $31.65. The stock has a market capitalization of $37.60 billion, a P/E ratio of 21.85, a P/E/G ratio of 0.38 and a beta of 0.75.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. Kinross Gold’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. On average, equities analysts anticipate that Kinross Gold will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Armstrong Advisory Group Inc. lifted its stake in Kinross Gold by 32.9% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock valued at $55,000 after acquiring an additional 483 shares during the period. Laird Norton Wetherby Wealth Management LLC lifted its position in Kinross Gold by 2.1% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock valued at $629,000 after purchasing an additional 521 shares during the period. Ballentine Partners LLC lifted its position in Kinross Gold by 1.8% during the third quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock valued at $799,000 after purchasing an additional 565 shares during the period. Cadence Wealth Management LLC boosted its holdings in Kinross Gold by 1.3% in the third quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock valued at $1,149,000 after purchasing an additional 581 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Kinross Gold by 7.0% in the third quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company’s stock valued at $224,000 after purchasing an additional 587 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.