Kinross Gold (NYSE:KGC) Downgraded by Wall Street Zen to "Buy"

Key Points

• Wall Street Zen downgraded Kinross Gold (NYSE: KGC) from "strong-buy" to "buy"; other analysts have cut price targets too, but MarketBeat's consensus rating remains a Moderate Buy with a $38.81 target.
• Kinross beat quarterly EPS estimates ($0.67 vs. $0.55) and reported revenue of $2.01B (+42.9% YoY); the stock trades around $32.77, has a market cap near $39.1B and an expected FY EPS of 2.77.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

KGC has been the topic of several other research reports. TD Securities dropped their price target on shares of Kinross Gold from $43.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research note on Wednesday, February 4th. Zacks Research lowered shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a "buy (a)" rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Finally, UBS Group lowered their target price on shares of Kinross Gold from $43.00 to $37.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.81.

Kinross Gold Stock Performance

Shares of KGC opened at $32.77 on Friday. The company's fifty day moving average is $32.37 and its 200-day moving average is $29.89. Kinross Gold has a 12 month low of $13.28 and a 12 month high of $39.11. The firm has a market cap of $39.13 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business posted $0.20 EPS. Kinross Gold's quarterly revenue was up 42.9% on a year-over-year basis. Equities analysts expect that Kinross Gold will post 2.77 EPS for the current fiscal year.

Institutional Trading of Kinross Gold

Hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in Kinross Gold in the 4th quarter valued at $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold in the 4th quarter valued at $26,000. Caitlin John LLC bought a new stake in Kinross Gold in the 3rd quarter valued at $26,000. Virtus Advisers LLC bought a new stake in Kinross Gold in the 3rd quarter valued at $28,000. Finally, GPS Wealth Strategies Group LLC bought a new position in shares of Kinross Gold during the 3rd quarter worth about $29,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Company Profile

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.

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