Kinross Gold (NYSE:KGC) (TSE:K) posted its earnings results on Wednesday. The mining company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.05), Briefing.com reports. Kinross Gold had a return on equity of 5.73% and a net margin of 11.67%. The firm had revenue of $753.90 million for the quarter, compared to analyst estimates of $777.48 million. During the same quarter last year, the firm posted $0.07 EPS. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis.
KGC stock traded up $0.01 during trading on Thursday, hitting $2.68. The company had a trading volume of 953,150 shares, compared to its average volume of 15,125,552. The stock has a market capitalization of $3.38 billion, a PE ratio of 19.18 and a beta of 0.22. Kinross Gold has a 1-year low of $2.57 and a 1-year high of $4.78. The company has a quick ratio of 1.88, a current ratio of 3.71 and a debt-to-equity ratio of 0.37.
A number of research firms have recently commented on KGC. Royal Bank of Canada reiterated a “hold” rating on shares of Kinross Gold in a research report on Thursday. TD Securities cut Kinross Gold from an “action list buy” rating to a “buy” rating and cut their target price for the stock from $6.00 to $5.50 in a research report on Saturday, July 14th. Credit Suisse Group set a $4.00 target price on Kinross Gold and gave the stock a “hold” rating in a research report on Tuesday, September 25th. ValuEngine cut Kinross Gold from a “sell” rating to a “strong sell” rating in a research report on Friday, August 17th. Finally, Barclays began coverage on Kinross Gold in a research report on Wednesday, October 10th. They set an “overweight” rating and a $4.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $4.33.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.
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