Raymond James Financial Initiates Coverage on Kinross Gold (NYSE:KGC)

Equities researchers at Raymond James Financial began coverage on shares of Kinross Gold (NYSE:KGC - Get Free Report) TSE: K in a report issued on Monday. The brokerage set a "market perform" rating and a $15.00 price target on the mining company's stock. Raymond James Financial's price target suggests a potential downside of 0.43% from the company's previous close.

Other analysts have also recently issued reports about the stock. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Stifel Canada raised shares of Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Royal Bank Of Canada raised their price target on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $14.00 to $18.00 in a report on Thursday. Finally, Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $17.00.

Kinross Gold Stock Performance

Shares of NYSE KGC traded up $0.20 during mid-day trading on Monday, reaching $15.07. 1,322,094 shares of the company's stock were exchanged, compared to its average volume of 18,709,352. The firm has a 50-day moving average price of $14.86 and a two-hundred day moving average price of $12.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. Kinross Gold has a 52 week low of $7.84 and a 52 week high of $16.04. The firm has a market capitalization of $18.48 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.08. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm's revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. Analysts predict that Kinross Gold will post 0.81 EPS for the current year.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp raised its stake in shares of Kinross Gold by 109.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock worth $25,000 after buying an additional 1,412 shares during the period. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock valued at $40,000 after buying an additional 1,002 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Kinross Gold in the 4th quarter worth $42,000. Banque Cantonale Vaudoise bought a new stake in Kinross Gold during the first quarter valued at about $55,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after acquiring an additional 3,659 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

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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