Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by equities research analysts at ValuEngine from a "hold" rating to a "sell" rating in a research note issued on Monday, ValuEngine reports.
Several other research analysts also recently commented on KGC. TD Securities lifted their price target on Kinross Gold from $6.50 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, March 11th. Scotiabank raised Kinross Gold from a "sector perform" rating to a "sector outperform" rating in a research report on Thursday, April 16th. CIBC lifted their price objective on Kinross Gold from $8.60 to $9.00 and gave the stock an "outperformer" rating in a report on Tuesday, May 12th. TheStreet raised Kinross Gold from a "c+" rating to a "b-" rating in a report on Wednesday, April 22nd. Finally, Raymond James reissued an "outperform" rating and set a $8.00 price objective on shares of Kinross Gold in a report on Thursday, May 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company's stock. Kinross Gold has a consensus rating of "Hold" and an average target price of $5.94.
NYSE KGC traded up $0.22 during trading on Monday, hitting $6.77. The company's stock had a trading volume of 17,645,337 shares, compared to its average volume of 20,390,367. The company has a quick ratio of 2.06, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $6.75 and a 200 day moving average price of $5.20. The firm has a market cap of $8.54 billion, a P/E ratio of 10.92 and a beta of 1.00. Kinross Gold has a 52 week low of $2.72 and a 52 week high of $7.67.
Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.10 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.08 by $0.02. The company had revenue of $879.80 million for the quarter, compared to the consensus estimate of $867.48 million. Kinross Gold had a return on equity of 9.25% and a net margin of 21.63%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 EPS. On average, equities analysts expect that Kinross Gold will post 0.55 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in KGC. Smith Asset Management Group LP acquired a new stake in Kinross Gold in the 4th quarter valued at $29,000. Ninety One SA PTY Ltd acquired a new stake in Kinross Gold in the 1st quarter valued at $33,000. Titus Wealth Management acquired a new stake in Kinross Gold in the 1st quarter valued at $40,000. XTX Markets LLC acquired a new stake in Kinross Gold in the 1st quarter valued at $41,000. Finally, Gill Capital Partners LLC acquired a new stake in Kinross Gold in the 1st quarter valued at $41,000. 54.92% of the stock is currently owned by institutional investors and hedge funds.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.
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