Kinross Gold Corporation (NYSE:KGC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $34.8125.

KGC has been the subject of a number of analyst reports. Scotiabank boosted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Jefferies Financial Group reissued a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a research note on Sunday, December 7th. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research report on Wednesday, February 4th. Finally, UBS Group set a $43.00 target price on Kinross Gold in a research note on Friday, January 30th.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its stake in Kinross Gold by 192.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,647,057 shares of the mining company’s stock worth $90,629,000 after purchasing an additional 2,398,621 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Kinross Gold by 203.0% during the 2nd quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock worth $2,388,000 after buying an additional 102,348 shares during the last quarter. U S Global Investors Inc. grew its position in shares of Kinross Gold by 60.5% in the 3rd quarter. U S Global Investors Inc. now owns 417,334 shares of the mining company’s stock worth $10,371,000 after acquiring an additional 157,334 shares in the last quarter. Dynasty Wealth Management LLC increased its holdings in shares of Kinross Gold by 185.4% in the 3rd quarter. Dynasty Wealth Management LLC now owns 226,215 shares of the mining company’s stock valued at $5,621,000 after acquiring an additional 146,955 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Kinross Gold during the 3rd quarter valued at approximately $1,253,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Trading Up 1.7%

Shares of Kinross Gold stock opened at $34.90 on Friday. Kinross Gold has a 1 year low of $10.32 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The business has a 50 day moving average price of $31.29 and a 200 day moving average price of $25.80. The company has a market capitalization of $41.87 billion, a P/E ratio of 24.40, a P/E/G ratio of 0.38 and a beta of 0.74.

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.