Kinross Gold (NYSE:KGC) Rating Lowered to “Buy” at Wall Street Zen

Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

KGC has been the subject of a number of other reports. CIBC increased their price objective on shares of Kinross Gold from $22.00 to $36.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. TD Securities increased their price target on Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Canaccord Genuity Group raised their price target on Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. Finally, Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Kinross Gold presently has a consensus rating of “Buy” and a consensus target price of $27.56.

Kinross Gold Stock Up 2.2%

NYSE KGC opened at $24.30 on Friday. Kinross Gold has a 52 week low of $8.99 and a 52 week high of $27.84. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $29.41 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The stock’s 50-day moving average price is $23.80 and its 200-day moving average price is $18.79.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. On average, equities research analysts predict that Kinross Gold will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Kinross Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC boosted its position in shares of Kinross Gold by 1.8% during the 3rd quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock valued at $799,000 after acquiring an additional 565 shares during the last quarter. Cadence Wealth Management LLC increased its position in Kinross Gold by 1.3% during the third quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock worth $1,149,000 after purchasing an additional 581 shares during the last quarter. Evergreen Capital Management LLC raised its stake in Kinross Gold by 1.1% during the second quarter. Evergreen Capital Management LLC now owns 56,135 shares of the mining company’s stock worth $877,000 after purchasing an additional 593 shares during the period. Signaturefd LLC boosted its holdings in Kinross Gold by 1.6% in the 3rd quarter. Signaturefd LLC now owns 43,872 shares of the mining company’s stock valued at $1,090,000 after purchasing an additional 680 shares during the last quarter. Finally, Armstrong Advisory Group Inc. boosted its holdings in Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after purchasing an additional 717 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.