Kinross Gold (NYSE:KGC) Stock Rating Upgraded by Royal Bank of Canada

Royal Bank of Canada upgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a sector perform rating to an outperform rating in a research report sent to investors on Monday, BayStreet.CA reports. They currently have $7.50 target price on the mining company’s stock, up from their prior target price of $7.00.

Several other analysts also recently weighed in on KGC. ValuEngine downgraded Kinross Gold from a hold rating to a sell rating in a report on Monday, June 1st. Raymond James reissued an outperform rating and issued a $8.00 target price on shares of Kinross Gold in a report on Thursday, May 7th. TheStreet raised Kinross Gold from a c+ rating to a b- rating in a report on Wednesday, April 22nd. TD Securities upped their price objective on Kinross Gold from $6.50 to $7.00 and gave the company a buy rating in a research note on Wednesday, March 11th. Finally, CIBC upped their price objective on Kinross Gold from $8.60 to $9.00 and gave the company an outperformer rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $6.28.

Shares of NYSE:KGC traded up $0.30 on Monday, hitting $6.52. 865,895 shares of the company’s stock were exchanged, compared to its average volume of 18,494,032. The firm’s 50-day moving average is $6.75 and its 200 day moving average is $5.37. The company has a market capitalization of $8.01 billion, a PE ratio of 10.27 and a beta of 1.00. Kinross Gold has a 1-year low of $2.72 and a 1-year high of $7.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 3.58.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, May 5th. The mining company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.02. Kinross Gold had a return on equity of 9.25% and a net margin of 21.63%. The business had revenue of $879.80 million during the quarter, compared to the consensus estimate of $867.48 million. During the same period in the previous year, the business earned $0.07 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that Kinross Gold will post 0.51 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Kinross Gold by 27.2% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 230,899 shares of the mining company’s stock worth $919,000 after buying an additional 49,328 shares in the last quarter. State of Tennessee Treasury Department raised its stake in shares of Kinross Gold by 5.8% during the 1st quarter. State of Tennessee Treasury Department now owns 1,007,342 shares of the mining company’s stock worth $3,998,000 after buying an additional 55,158 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Kinross Gold by 779,705.9% during the 1st quarter. 1832 Asset Management L.P. now owns 530,268 shares of the mining company’s stock worth $2,171,000 after buying an additional 530,200 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Kinross Gold by 58.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 6,441,382 shares of the mining company’s stock worth $25,569,000 after buying an additional 2,376,394 shares in the last quarter. Finally, Odey Asset Management Group Ltd grew its holdings in shares of Kinross Gold by 47.1% in the 1st quarter. Odey Asset Management Group Ltd now owns 5,815,948 shares of the mining company’s stock worth $23,147,000 after acquiring an additional 1,862,571 shares during the period. 54.92% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Company Profile

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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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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