#3 - Kinross Gold Corporation (NYSE:KGC)
Rounding out our list of the “usual suspects” among gold mining stocks is Kinross Gold Corporation (NYSE:KGC). One of the appealing elements of KGC stock is that, right now, investors can get the stock for under $10 per share.
Of the gold mining stocks we’ve looked at, Kinross has the smallest percentage of institutional ownership at around 50%. However, analysts are very bullish on the stock. 9 of the 11 analysts that rate Kinross have a buy rating with a consensus price target of $11.57 that would be a 61.34% gain from the stock’s current level.
Kinross posted better-than-expected fourth-quarter earnings that nearly doubled YOY. Revenue was also up 20% YOY. KGC stock is down 10% year-to-date but is still up nearly 20% (19.7%) for the year.
Investors who are looking for optimism can point to the management team’s expectations for production to increase by 20% in the next three years. And this growth would be concurrent with falling production costs. If that scenario occurs, getting in on KGC stock at under $10 will be a real bargain.
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.
Read More - Current Price
- $8.00
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 2 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $6.69 (16.4% Downside)
