Kinross Gold (NYSE:KGC) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Kinross Gold has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased confidence in the stock's performance.
• Several analysts have raised their target prices for Kinross Gold, with Canaccord Genuity setting a target of $29.50 and UBS Group increasing theirs to $27.00.
• The company's stock price is currently at $25.03, with a 12-month trading range between $8.99 and $25.78.

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

KGC has been the topic of a number of other research reports. Canaccord Genuity Group boosted their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a report on Thursday, August 7th. UBS Group boosted their target price on shares of Kinross Gold from $20.00 to $27.00 and gave the company a "buy" rating in a report on Friday, September 19th. Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 price target for the company in a research report on Monday, June 30th. CIBC lifted their price target on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Finally, Zacks Research lowered Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of "Buy" and a consensus price target of $21.07.

Kinross Gold Stock Up 0.3%

Shares of KGC stock traded up $0.08 during mid-day trading on Friday, reaching $25.03. 12,604,829 shares of the company's stock traded hands, compared to its average volume of 19,890,014. Kinross Gold has a 12 month low of $8.99 and a 12 month high of $25.78. The company has a market cap of $30.34 billion, a P/E ratio of 20.18, a P/E/G ratio of 0.80 and a beta of 0.64. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company's 50-day moving average price is $20.91 and its 200-day moving average price is $16.74.

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

Hedge Funds Weigh In On Kinross Gold

Hedge funds have recently bought and sold shares of the business. Transce3nd LLC raised its position in Kinross Gold by 128.2% in the 2nd quarter. Transce3nd LLC now owns 2,914 shares of the mining company's stock worth $46,000 after buying an additional 1,637 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Kinross Gold in the 1st quarter worth about $55,000. MAI Capital Management raised its position in Kinross Gold by 22.0% in the 2nd quarter. MAI Capital Management now owns 5,022 shares of the mining company's stock worth $78,000 after buying an additional 907 shares during the last quarter. IFP Advisors Inc raised its position 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 buying an additional 835 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after buying an additional 3,659 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

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.

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