Freedom Capital Upgrades Kinross Gold (NYSE:KGC) to “Strong-Buy”

Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by equities research analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also commented on the company. Scotiabank raised their price target on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. TD Securities cut their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Zacks Research downgraded Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $36.00 to $45.00 in a report on Thursday, March 12th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Stock Up 0.6%

KGC stock opened at $28.55 on Monday. The firm has a market cap of $34.05 billion, a PE ratio of 12.10, a PEG ratio of 1.02 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The firm’s 50 day moving average price is $31.15 and its 200-day moving average price is $30.53. Kinross Gold has a one year low of $13.66 and a one year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. On average, equities research analysts anticipate that Kinross Gold will post 2.92 EPS for the current year.

Institutional Trading of Kinross Gold

Large investors have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Kinross Gold during the fourth quarter worth $26,000. Financial Management Professionals Inc. purchased a new stake in shares of Kinross Gold during the fourth quarter worth $26,000. Ascentis Independent Advisors purchased a new stake in shares of Kinross Gold during the first quarter worth $29,000. Caitlin John LLC purchased a new stake in shares of Kinross Gold during the third quarter worth $26,000. Finally, Virtus Advisers LLC purchased a new stake in shares of Kinross Gold during the third quarter worth $28,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.