Kinross Gold (KGC) Earns Hold Rating from BMO Capital Markets
BMO Capital Markets reiterated their hold rating on shares of Kinross Gold (NYSE:KGC) (TSE:K) in a research note released on Friday. The brokerage currently has a $3.50 target price on the mining company’s stock.
Other equities research analysts also recently issued reports about the company. TD Securities downgraded Kinross Gold from an action list buy rating to a buy rating and decreased their price objective for the company from $6.00 to $5.50 in a report on Saturday, July 14th. JPMorgan Chase & Co. decreased their price objective on Kinross Gold from $6.00 to $5.00 and set a neutral rating for the company in a report on Monday, September 17th. Credit Suisse Group initiated coverage on Kinross Gold in a report on Thursday, September 6th. They issued a neutral rating and a $4.00 price objective for the company. Citigroup decreased their price objective on Kinross Gold from $4.00 to $3.25 and set a neutral rating for the company in a report on Wednesday, August 29th. Finally, National Bank Financial reissued an outperform spec overweight rating on shares of Kinross Gold in a report on Monday, June 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $4.35.
Shares of KGC opened at $2.94 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.71 and a quick ratio of 1.88. The company has a market capitalization of $3.69 billion, a P/E ratio of 21.00 and a beta of 0.12. Kinross Gold has a 52-week low of $2.67 and a 52-week high of $4.78.
Several hedge funds have recently bought and sold shares of the company. Regentatlantic Capital LLC raised its stake in shares of Kinross Gold by 152.1% during the second quarter. Regentatlantic Capital LLC now owns 28,135 shares of the mining company’s stock worth $106,000 after purchasing an additional 16,975 shares during the last quarter. Vanguard Capital Wealth Advisors purchased a new stake in shares of Kinross Gold during the second quarter worth approximately $182,000. Nomura Holdings Inc. purchased a new stake in shares of Kinross Gold during the second quarter worth approximately $248,000. Tower Research Capital LLC TRC raised its stake in shares of Kinross Gold by 4,393.5% during the second quarter. Tower Research Capital LLC TRC now owns 96,161 shares of the mining company’s stock worth $362,000 after purchasing an additional 94,021 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Kinross Gold by 209.1% during the first quarter. GSA Capital Partners LLP now owns 97,619 shares of the mining company’s stock worth $386,000 after purchasing an additional 66,036 shares during the last quarter. 53.67% of the stock is owned by institutional investors and hedge funds.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.
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