Kinross Gold Corporation (NYSE:KGC) Receives $34.81 Average Target Price from Brokerages

Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have earned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $34.8125.

Several brokerages have weighed in on KGC. Desjardins started coverage on Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Scotiabank lifted their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Jefferies Financial Group restated a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a research report on Sunday, December 7th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Finally, Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a report on Wednesday, February 4th.

Kinross Gold Trading Up 5.8%

Shares of KGC opened at $33.94 on Friday. The firm has a 50 day moving average price of $31.00 and a 200-day moving average price of $25.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.68 and a current ratio of 2.83. Kinross Gold has a fifty-two week low of $10.32 and a fifty-two week high of $39.11. The firm has a market cap of $40.72 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 0.36 and a beta of 0.74.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in Kinross Gold during the fourth quarter valued at approximately $26,000. Financial Management Professionals Inc. bought a new position in shares of Kinross Gold in the fourth quarter worth approximately $26,000. Caitlin John LLC bought a new stake in Kinross Gold in the 3rd quarter worth approximately $26,000. Virtus Advisers LLC bought a new position in Kinross Gold during the third quarter valued at $28,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in Kinross Gold in the 3rd quarter worth about $29,000. 63.69% of the stock is owned by institutional investors.

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.