Kinross Gold (NYSE:KGC) Shares Gap Up to $5.59

Kinross Gold Co. (NYSE:KGC) (TSE:K)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $5.47, but opened at $5.59. Kinross Gold shares last traded at $5.96, with a volume of 23,680,657 shares.

Several research analysts recently issued reports on the company. ValuEngine raised Kinross Gold from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 29th. Zacks Investment Research upgraded Kinross Gold from a “sell” rating to a “hold” rating and set a $5.25 target price for the company in a report on Tuesday, January 28th. Raymond James restated an “outperform” rating and set a $6.50 target price on shares of Kinross Gold in a report on Friday, February 14th. Credit Suisse Group restated a “neutral” rating and set a $5.25 target price on shares of Kinross Gold in a report on Thursday, January 23rd. Finally, Royal Bank of Canada restated a “hold” rating and set a $5.00 target price on shares of Kinross Gold in a report on Monday, January 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.12.

The business has a fifty day simple moving average of $4.87 and a two-hundred day simple moving average of $4.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.96 and a quick ratio of 1.25. The company has a market cap of $6.98 billion, a PE ratio of 10.46 and a beta of -0.06.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, February 12th. The mining company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $996.20 million during the quarter, compared to analyst estimates of $947.81 million. Kinross Gold had a return on equity of 8.70% and a net margin of 20.55%. Kinross Gold’s revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. On average, equities research analysts predict that Kinross Gold Co. will post 0.43 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Smith Asset Management Group LP purchased a new stake in shares of Kinross Gold during the 4th quarter valued at $29,000. Wetherby Asset Management Inc. purchased a new stake in shares of Kinross Gold during the 4th quarter valued at $49,000. Brookstone Capital Management purchased a new stake in shares of Kinross Gold during the 4th quarter valued at $51,000. Corient Capital Partners LLC purchased a new stake in shares of Kinross Gold during the 3rd quarter valued at $55,000. Finally, Nicolet Advisory Services LLC purchased a new stake in shares of Kinross Gold during the 4th quarter valued at $60,000. Hedge funds and other institutional investors own 51.65% of the company’s stock.

About Kinross Gold (NYSE:KGC)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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