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

Key Points

• Wall Street Zen upgraded Kinross Gold from buy to strong-buy, adding to a generally positive analyst backdrop for the stock.
• Analyst sentiment remains supportive overall, with the company holding an average Moderate Buy rating and an average price target of $38.81, despite some mixed recent calls from other firms.
• Kinross Gold reported better-than-expected quarterly earnings of $0.71 per share and 60.8% revenue growth year over year, though the stock was still noted as down 8.1% in recent trading.

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

KGC has been the topic of several other reports. Scotiabank raised their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 23rd. UBS Group decreased their price target 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. Weiss Ratings cut shares of Kinross Gold from a "buy (a+)" rating to a "buy (a-)" rating in a research note on Friday, May 1st. Finally, Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Kinross Gold presently has an average rating of "Moderate Buy" and an average target price of $38.81.

Kinross Gold Stock Down 8.1%

Shares of Kinross Gold stock opened at $28.40 on Friday. The company has a market cap of $33.87 billion, a P/E ratio of 12.03, a PEG ratio of 1.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold has a one year low of $13.34 and a one year high of $39.11. The firm has a fifty day moving average of $31.23 and a two-hundred day moving average of $30.44.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business's revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. On average, analysts forecast that Kinross Gold will post 2.92 earnings per share for the current year.

Institutional Trading of Kinross Gold

A number of hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in Kinross Gold by 3.2% in the fourth quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company's stock worth $262,000 after purchasing an additional 292 shares during the period. Turning Point Benefit Group Inc. boosted its holdings in Kinross Gold by 6.6% in the fourth quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company's stock worth $178,000 after purchasing an additional 393 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in Kinross Gold by 2.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company's stock worth $636,000 after purchasing an additional 473 shares during the period. Armstrong Advisory Group Inc. boosted its holdings in Kinross Gold by 32.9% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company's stock worth $55,000 after purchasing an additional 483 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC boosted its holdings in Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company's stock worth $629,000 after purchasing an additional 521 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.

Trending Headlines about Kinross Gold

Here are the key news stories impacting Kinross Gold this week:

• Positive Sentiment: Analysts are raising earnings estimates across several future periods, reflecting better profit expectations for Kinross Gold. Article Title
• Positive Sentiment: Strong cash flow, project growth, and a solid balance sheet may help cushion the stock during periods of softer gold prices. Article Title
• Neutral Sentiment: Zacks Research maintained a Hold rating while lifting forecasts, which supports the outlook but does not amount to a bullish upgrade.
• Neutral Sentiment: The stock’s long-term performance has been very strong, but recent volatility has made valuation and timing questions more important for investors. Article Title
• Negative Sentiment: Weakness in gold prices and a break below the 50-day SMA are weighing on near-term trading sentiment for Kinross Gold.

About Kinross Gold

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.