Kinross Gold (KGC) Receives Hold Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their hold rating on shares of Kinross Gold (NYSE:KGC) (TSE:K) in a research note issued to investors on Thursday.

KGC has been the subject of a number of other reports. Citigroup lowered their price target on Kinross Gold from $4.00 to $3.25 and set a neutral rating for the company in a report on Wednesday, August 29th. JPMorgan Chase & Co. lowered their price target on Kinross Gold from $6.00 to $5.00 and set a neutral rating for the company in a report on Monday, September 17th. Barclays assumed coverage on Kinross Gold in a report on Wednesday, October 10th. They set an overweight rating and a $4.00 price target for the company. ValuEngine upgraded Kinross Gold from a strong sell rating to a sell rating in a report on Tuesday, October 2nd. Finally, Credit Suisse Group set a $4.00 price target on Kinross Gold and gave the stock a hold rating in a report on Tuesday, September 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $4.28.

NYSE:KGC traded down $0.07 during trading hours on Thursday, hitting $2.59. The company had a trading volume of 978,909 shares, compared to its average volume of 15,125,552. The company has a quick ratio of 1.88, a current ratio of 3.71 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3.38 billion, a P/E ratio of 18.54 and a beta of 0.22. Kinross Gold has a 1 year low of $2.51 and a 1 year high of $4.78.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, November 7th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.05). The company had revenue of $753.90 million during the quarter, compared to analysts’ expectations of $777.48 million. Kinross Gold had a net margin of 11.67% and a return on equity of 5.73%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 earnings per share. On average, equities analysts anticipate that Kinross Gold will post 0.16 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Regentatlantic Capital LLC boosted its holdings in Kinross Gold by 152.1% during the 2nd quarter. Regentatlantic Capital LLC now owns 28,135 shares of the mining company’s stock valued at $106,000 after acquiring an additional 16,975 shares during the period. Vanguard Capital Wealth Advisors purchased a new position in Kinross Gold during the 2nd quarter valued at about $182,000. Nomura Holdings Inc. purchased a new position in Kinross Gold during the 2nd quarter valued at about $248,000. Gamco Investors INC. ET AL boosted its holdings in Kinross Gold by 126.2% during the 3rd quarter. Gamco Investors INC. ET AL now owns 101,800 shares of the mining company’s stock valued at $275,000 after acquiring an additional 56,800 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Kinross Gold by 4,393.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 96,161 shares of the mining company’s stock valued at $362,000 after acquiring an additional 94,021 shares during the period. Institutional investors own 53.65% of the company’s stock.

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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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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