Kinross Gold (NYSE:KGC) Coverage Initiated by Analysts at UBS Group

Key Points

• UBS Group has initiated coverage on Kinross Gold, giving it a "buy" rating and a price target of $20.00, suggesting a potential upside of 23.46% from its current price.
• Other brokerages, such as BMO Capital Markets and Jefferies Financial Group, have also rated Kinross Gold positively, with consensus ratings leaning towards "Buy" and a target price averaging $18.50.
• Kinross Gold reported a strong quarterly performance with earnings per share of $0.44, significantly exceeding estimates, and a year-over-year revenue increase of 41.7%.

Equities research analysts at UBS Group initiated coverage on shares of Kinross Gold (NYSE:KGC - Get Free Report) TSE: K in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $20.00 price target on the mining company's stock. UBS Group's target price indicates a potential upside of 23.46% from the stock's current price.

Several other brokerages have also issued reports on KGC. BMO Capital Markets began coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and boosted their price target for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. Scotiabank lifted their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 8th. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Finally, Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Two analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $18.50.

Kinross Gold Trading Up 1.3%

KGC opened at $16.20 on Monday. Kinross Gold has a twelve month low of $7.84 and a twelve month high of $16.52. The company has a fifty day moving average of $15.50 and a 200-day moving average of $13.59. The stock has a market cap of $19.74 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.55 and a beta of 0.55. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted $0.14 EPS. The business's quarterly revenue was up 41.7% on a year-over-year basis. On average, sell-side analysts predict that Kinross Gold will post 0.81 EPS for the current year.

Institutional Trading of Kinross Gold

Hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc lifted its holdings in Kinross Gold by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company's stock worth $81,000 after purchasing an additional 835 shares in the last quarter. Capital Investment Advisors LLC lifted its position in shares of Kinross Gold by 3.1% in the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock worth $351,000 after buying an additional 850 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Kinross Gold by 3.0% during the 1st quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company's stock valued at $438,000 after buying an additional 1,013 shares in the last quarter. US Bancorp DE grew its holdings in Kinross Gold by 2.0% during the 2nd quarter. US Bancorp DE now owns 55,320 shares of the mining company's stock valued at $865,000 after buying an additional 1,103 shares in the last quarter. Finally, S.A. Mason LLC increased its stake in Kinross Gold by 6.0% in the 1st quarter. S.A. Mason LLC now owns 22,250 shares of the mining company's stock worth $281,000 after acquiring an additional 1,250 shares during the last quarter. Institutional investors own 63.69% 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, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.

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