Kinross Gold (NYSE:KGC) Earns Hold Rating from Credit Suisse Group

Credit Suisse Group restated their hold rating on shares of Kinross Gold (NYSE:KGC) (TSE:K) in a report published on Wednesday morning, AnalystRatings.com reports. They currently have a $8.50 target price on the mining company’s stock.

A number of other analysts also recently weighed in on the company. Scotiabank upped their target price on Kinross Gold from $8.00 to $8.50 in a research report on Monday, July 20th. Royal Bank of Canada upgraded Kinross Gold from a sector perform rating to an outperform rating and upped their price objective for the stock from $7.00 to $7.50 in a research report on Monday, June 15th. TheStreet upgraded Kinross Gold from a c+ rating to a b- rating in a research report on Wednesday, April 22nd. ValuEngine downgraded Kinross Gold from a hold rating to a sell rating in a research report on Monday, June 1st. Finally, Raymond James upped their price objective on Kinross Gold from $8.50 to $9.50 and gave the stock an outperform rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $8.14.

Shares of KGC stock traded up $0.68 during trading on Wednesday, reaching $9.37. 20,792,538 shares of the company’s stock were exchanged, compared to its average volume of 15,663,406. The company has a quick ratio of 2.06, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $11.79 billion, a PE ratio of 13.20 and a beta of 1.00. Kinross Gold has a twelve month low of $2.72 and a twelve month high of $9.38. The firm’s fifty day moving average price is $7.35 and its 200-day moving average price is $6.03.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Kinross Gold had a return on equity of 11.27% and a net margin of 23.96%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. As a group, analysts anticipate that Kinross Gold will post 0.63 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Comerica Bank increased its stake in shares of Kinross Gold by 6.8% in the second quarter. Comerica Bank now owns 65,657 shares of the mining company’s stock valued at $557,000 after buying an additional 4,167 shares during the period. Lincoln National Corp increased its stake in shares of Kinross Gold by 37.1% in the second quarter. Lincoln National Corp now owns 58,337 shares of the mining company’s stock valued at $421,000 after buying an additional 15,787 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Kinross Gold in the second quarter valued at about $109,000. Hussman Strategic Advisors Inc. increased its stake in shares of Kinross Gold by 0.4% in the second quarter. Hussman Strategic Advisors Inc. now owns 401,750 shares of the mining company’s stock valued at $2,901,000 after buying an additional 1,750 shares during the period. Finally, Sicart Associates LLC increased its stake in shares of Kinross Gold by 7.0% in the second quarter. Sicart Associates LLC now owns 45,900 shares of the mining company’s stock valued at $331,000 after buying an additional 3,000 shares during the period. 54.96% of the stock is owned by institutional investors.

About Kinross Gold

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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