Kinross Gold (NYSE:KGC) Rating Increased to Buy at StockNews.com

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Tuesday.

Several other research firms also recently commented on KGC. CIBC lifted their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an "outperform" rating in a research note on Wednesday, February 7th. National Bank Financial reaffirmed an "outperform overweight" rating on shares of Kinross Gold in a research note on Wednesday, January 3rd. Jefferies Financial Group began coverage on shares of Kinross Gold in a research note on Thursday, February 29th. They issued a "hold" rating and a $5.00 target price on the stock. Finally, TheStreet cut shares of Kinross Gold from a "b" rating to a "c+" rating in a report on Friday, February 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $6.05.

Kinross Gold Price Performance

Shares of KGC stock traded up $0.11 during trading hours on Tuesday, hitting $6.27. 15,618,310 shares of the company's stock were exchanged, compared to its average volume of 13,292,480. The company has a market capitalization of $7.70 billion, a PE ratio of 18.44, a PEG ratio of 1.28 and a beta of 1.15. Kinross Gold has a 12-month low of $4.32 and a 12-month high of $6.34. The business's 50 day simple moving average is $5.42 and its 200-day simple moving average is $5.44. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. On average, equities research analysts anticipate that Kinross Gold will post 0.33 earnings per share for the current year.

Institutional Trading of Kinross Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Kinross Gold by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company's stock worth $271,841,000 after purchasing an additional 528,121 shares during the period. Norges Bank bought a new position in shares of Kinross Gold during the 4th quarter worth $265,327,000. Ruffer LLP grew its position in shares of Kinross Gold by 4.6% during the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company's stock worth $120,908,000 after buying an additional 877,104 shares in the last quarter. Boston Partners grew its position in shares of Kinross Gold by 44.0% during the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company's stock worth $102,236,000 after buying an additional 5,162,124 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Kinross Gold by 207.3% during the 4th quarter. Millennium Management LLC now owns 16,449,766 shares of the mining company's stock worth $67,244,000 after buying an additional 11,097,512 shares in 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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