Kinross Gold (NYSE:KGC) Upgraded at Zacks Research

Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other equities research analysts also recently commented on KGC. UBS Group reduced their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Royal Bank Of Canada reduced their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Weiss Ratings cut shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 31st. Finally, Scotiabank cut their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.43.

Kinross Gold Stock Performance

KGC stock opened at $30.18 on Monday. Kinross Gold has a 1 year low of $21.94 and a 1 year high of $39.11. The stock has a market capitalization of $35.74 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 0.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The stock’s fifty day moving average is $26.65 and its two-hundred day moving average is $28.92.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business’s revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, research analysts predict that Kinross Gold will post 2.61 EPS for the current year.

Institutional Investors Weigh In On Kinross Gold

Institutional investors have recently made changes to their positions in the company. Ascentis Independent Advisors acquired a new position in Kinross Gold in the first quarter worth approximately $29,000. Virtus Advisers LLC acquired a new stake in Kinross Gold in the third quarter valued at approximately $28,000. Continuum Advisory LLC acquired a new stake in Kinross Gold in the second quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd grew its position in Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after acquiring an additional 589 shares in the last quarter. Finally, Caitlin John LLC increased its stake in shares of Kinross Gold by 42.1% during the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after purchasing an additional 400 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

About Kinross Gold

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.