Kinross Gold (NYSE:KGC) Now Covered 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%.

Stock analysts at UBS Group started coverage on shares of Kinross Gold (NYSE:KGC - Get Free Report) TSE: K in a research report issued on Monday, MarketBeat.com reports. The firm set a "buy" rating and a $20.00 price target on the mining company's stock. UBS Group's price objective would indicate a potential upside of 5.32% from the company's current price.

A number of other research firms also recently weighed in on KGC. CIBC raised their price target on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Scotiabank boosted their price target on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 8th. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and upped their price target for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. Finally, Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a research note on Monday, June 30th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $20.07.

Kinross Gold Stock Up 1.2%

Shares of KGC traded up $0.22 during midday trading on Monday, reaching $18.99. 17,108,245 shares of the stock were exchanged, compared to its average volume of 21,016,934. The company has a market cap of $23.14 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.62 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 has a 12-month low of $8.31 and a 12-month high of $19.25. The firm has a 50 day simple moving average of $15.78 and a 200-day simple moving average of $13.76.

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

Institutional Trading of Kinross Gold

A number of hedge funds have recently bought and sold shares of the stock. Creative Planning increased its stake in Kinross Gold by 16.2% during the second quarter. Creative Planning now owns 112,758 shares of the mining company's stock valued at $1,762,000 after acquiring an additional 15,720 shares during the period. Fiera Capital Corp bought a new position in Kinross Gold during the second quarter worth about $180,000. D Orazio & Associates Inc. acquired a new stake in Kinross Gold during the second quarter valued at approximately $163,000. Candriam S.C.A. grew its stake in shares of Kinross Gold by 10.1% in the 2nd quarter. Candriam S.C.A. now owns 73,495 shares of the mining company's stock valued at $1,146,000 after purchasing an additional 6,770 shares during the period. Finally, Bailard Inc. acquired a new stake in Kinross Gold in the 2nd quarter valued at $3,059,000. 63.69% of the stock is owned by institutional investors.

About Kinross Gold

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.