Analysts Set Kinross Gold Co. (KGC) Price Target at $4.19

Kinross Gold Co. (NYSE:KGC) (TSE:K) has earned an average rating of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $4.19.

KGC has been the subject of several recent research reports. ValuEngine downgraded shares of Kinross Gold from a “sell” rating to a “strong sell” rating in a research report on Friday, August 17th. Royal Bank of Canada downgraded shares of Kinross Gold from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $5.00 to $4.75 in a research report on Monday, August 20th. They noted that the move was a valuation call. Citigroup decreased their target price on shares of Kinross Gold from $4.00 to $3.25 and set a “neutral” rating for the company in a research report on Wednesday, August 29th. Credit Suisse Group initiated coverage on shares of Kinross Gold in a research report on Thursday, September 6th. They set a “neutral” rating and a $4.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Kinross Gold from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Monday, September 17th.

Large investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Kinross Gold by 5.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,480,440 shares of the mining company’s stock worth $16,872,000 after acquiring an additional 229,162 shares in the last quarter. Toronto Dominion Bank grew its position in Kinross Gold by 53.6% in the 2nd quarter. Toronto Dominion Bank now owns 6,597,278 shares of the mining company’s stock worth $24,950,000 after purchasing an additional 2,302,251 shares in the last quarter. Janus Henderson Group PLC grew its position in Kinross Gold by 18.8% in the 2nd quarter. Janus Henderson Group PLC now owns 972,943 shares of the mining company’s stock worth $3,662,000 after purchasing an additional 153,847 shares in the last quarter. Korea Investment CORP grew its position in Kinross Gold by 205.1% in the 2nd quarter. Korea Investment CORP now owns 259,748 shares of the mining company’s stock worth $977,000 after purchasing an additional 174,600 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Kinross Gold by 40.4% in the 2nd quarter. Legal & General Group Plc now owns 2,914,854 shares of the mining company’s stock worth $10,968,000 after purchasing an additional 838,584 shares in the last quarter. 54.08% of the stock is owned by institutional investors.

Shares of NYSE KGC traded up $0.02 during trading on Friday, hitting $2.82. 20,766,805 shares of the company traded hands, compared to its average volume of 10,136,727. Kinross Gold has a fifty-two week low of $2.38 and a fifty-two week high of $4.78. The firm has a market capitalization of $3.50 billion, a P/E ratio of 20.14 and a beta of 0.26. The company has a current ratio of 3.07, a quick ratio of 1.26 and a debt-to-equity ratio of 0.38.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). Kinross Gold had a net margin of 6.85% and a return on equity of 2.82%. The company had revenue of $753.90 million for the quarter, compared to analyst estimates of $777.48 million. During the same quarter in the prior year, the company posted $0.07 EPS. Kinross Gold’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts forecast that Kinross Gold will post 0.11 EPS for the current year.

Kinross Gold Company Profile

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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