Kinross Gold (NYSE:KGC) Upgraded to “Outperform” by Credit Suisse Group

Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by stock analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a note issued to investors on Wednesday, Analyst Ratings Network reports. The firm presently has a $8.00 price target on the mining company’s stock, up from their previous price target of $7.50. Credit Suisse Group’s price objective suggests a potential upside of 23.84% from the company’s current price.

Other equities analysts have also issued research reports about the company. CIBC lowered Kinross Gold from an “outperform” rating to a “neutral” rating and cut their price target for the company from $11.25 to $8.50 in a research note on Tuesday. TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, May 28th. National Bank Financial downgraded shares of Kinross Gold from an “outperform” rating to a “sector perform” rating in a research note on Tuesday. Raymond James cut their price objective on shares of Kinross Gold from $11.00 to $9.50 and set an “outperform” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on Kinross Gold from $11.00 to $9.00 in a report on Tuesday, April 27th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $10.54.

Shares of NYSE:KGC opened at $6.46 on Wednesday. The stock’s 50 day moving average is $7.56. The company has a current ratio of 2.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.21. Kinross Gold has a one year low of $6.10 and a one year high of $10.31. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 5.98 and a beta of 0.86.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Monday, May 10th. The mining company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $986.50 million for the quarter, compared to analysts’ expectations of $1.09 billion. Kinross Gold had a return on equity of 16.56% and a net margin of 31.69%. Kinross Gold’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. On average, sell-side analysts expect that Kinross Gold will post 0.61 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC increased its position in Kinross Gold by 177.2% during the 1st quarter. Advisory Services Network LLC now owns 21,478 shares of the mining company’s stock valued at $143,000 after buying an additional 13,731 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Kinross Gold by 51.2% during the first quarter. Schroder Investment Management Group now owns 3,409,673 shares of the mining company’s stock valued at $24,884,000 after acquiring an additional 1,154,171 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Kinross Gold by 63.1% during the first quarter. 180 Wealth Advisors LLC now owns 34,471 shares of the mining company’s stock valued at $277,000 after acquiring an additional 13,340 shares in the last quarter. Pendal Group Limited raised its position in shares of Kinross Gold by 14.0% in the 1st quarter. Pendal Group Limited now owns 1,031,880 shares of the mining company’s stock valued at $6,872,000 after purchasing an additional 126,386 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new stake in Kinross Gold in the 1st quarter worth approximately $1,055,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; 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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