UBS Group Cuts Kinross Gold (NYSE:KGC) Price Target to $37.00

Kinross Gold (NYSE:KGC) (TSE:K) had its price objective decreased by investment analysts at UBS Group from $43.00 to $37.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the mining company’s stock. UBS Group’s target price would indicate a potential upside of 29.13% from the company’s current price.

KGC has been the topic of a number of other reports. Scotiabank increased their target price on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Desjardins started coverage on shares of Kinross Gold in a research note on Friday, November 28th. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Finally, TD Securities dropped their target price on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

Kinross Gold Stock Up 2.7%

Shares of KGC stock traded up $0.76 during trading hours on Friday, hitting $28.65. 4,803,142 shares of the company’s stock traded hands, compared to its average volume of 11,869,595. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $33.30 and its two-hundred day simple moving average is $28.63. Kinross Gold has a 12-month low of $11.12 and a 12-month high of $39.11. The stock has a market cap of $34.32 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.42 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the business posted $0.20 EPS. The firm’s quarterly revenue was up 42.9% compared to the same quarter last year. On average, analysts expect that Kinross Gold will post 0.81 EPS for the current year.

Institutional Trading of Kinross Gold

A number of large investors have recently made changes to their positions in KGC. Caitlin John LLC purchased a new position in shares of Kinross Gold during the third quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new stake in Kinross Gold in the fourth quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold in the 4th quarter worth approximately $26,000. Virtus Advisers LLC bought a new stake in Kinross Gold in the 3rd quarter worth approximately $28,000. Finally, GPS Wealth Strategies Group LLC bought a new position in shares of Kinross Gold during the 3rd quarter valued at $29,000. 63.69% of the stock is currently 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.