Kinross Gold Co. (NYSE:KGC) (TSE:K) shares gapped up prior to trading on Friday . The stock had previously closed at $3.03, but opened at $2.96. Kinross Gold shares last traded at $2.86, with a volume of 479497 shares traded.

KGC has been the topic of several research analyst reports. Deutsche Bank set a $4.00 price objective on shares of Kinross Gold and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Credit Suisse Group initiated coverage on shares of Kinross Gold in a research report on Thursday, September 6th. They issued a “neutral” rating and a $4.00 price objective on the stock. Royal Bank of Canada cut shares of Kinross Gold from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $5.00 to $4.75 in a research report on Monday, August 20th. They noted that the move was a valuation call. BMO Capital Markets restated a “hold” rating and issued a $3.50 price objective on shares of Kinross Gold in a research report on Friday, September 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kinross Gold from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, September 17th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Kinross Gold has an average rating of “Hold” and a consensus price target of $4.30.

The company has a current ratio of 3.71, a quick ratio of 1.88 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 20.57 and a beta of 0.17.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, August 1st. The mining company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. Kinross Gold had a net margin of 11.67% and a return on equity of 5.73%. The business had revenue of $775.00 million for the quarter, compared to analysts’ expectations of $803.96 million. During the same period last year, the business earned $0.04 earnings per share. The business’s quarterly revenue was down 10.8% on a year-over-year basis. On average, equities analysts forecast that Kinross Gold Co. will post 0.19 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of KGC. Van ECK Associates Corp grew its position in Kinross Gold by 10.1% during the second quarter. Van ECK Associates Corp now owns 84,161,798 shares of the mining company’s stock valued at $316,448,000 after acquiring an additional 7,706,903 shares during the last quarter. Renaissance Technologies LLC grew its position in Kinross Gold by 14.1% during the second quarter. Renaissance Technologies LLC now owns 54,555,299 shares of the mining company’s stock valued at $205,128,000 after acquiring an additional 6,743,300 shares during the last quarter. Ruffer LLP grew its position in Kinross Gold by 15.6% during the second quarter. Ruffer LLP now owns 40,874,922 shares of the mining company’s stock valued at $153,931,000 after acquiring an additional 5,529,141 shares during the last quarter. Toronto Dominion Bank grew its position in Kinross Gold by 53.6% during the second quarter. Toronto Dominion Bank now owns 6,597,278 shares of the mining company’s stock valued at $24,950,000 after acquiring an additional 2,302,251 shares during the last quarter. Finally, Donald Smith & CO. Inc. grew its position in Kinross Gold by 2.0% during the second quarter. Donald Smith & CO. Inc. now owns 51,291,334 shares of the mining company’s stock valued at $192,855,000 after acquiring an additional 1,025,062 shares during the last quarter. Institutional investors and hedge funds own 53.67% of the company’s stock.

About Kinross Gold (NYSE:KGC)

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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