Kinross Gold (KGC) Shares Gap Up to $2.76

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares gapped up before the market opened on Friday . The stock had previously closed at $2.86, but opened at $2.76. Kinross Gold shares last traded at $2.72, with a volume of 433223 shares trading hands.

KGC has been the topic of a number of research reports. TD Securities downgraded shares of Kinross Gold from an “action list buy” rating to a “buy” rating and dropped their target price for the company from $6.00 to $5.50 in a research report on Saturday, July 14th. Deutsche Bank set a $4.00 target price on shares of Kinross Gold and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Credit Suisse Group set a $4.00 price objective on shares of Kinross Gold and gave the stock a “hold” rating in a report on Tuesday, September 25th. BMO Capital Markets restated a “hold” rating and set a $3.50 price objective on shares of Kinross Gold in a report on Friday, September 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Kinross Gold from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Monday, September 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $4.33.

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 firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 13.10 and a beta of 0.22.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, August 1st. The mining company reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. Kinross Gold had a net margin of 11.67% and a return on equity of 5.73%. The firm had revenue of $775.00 million for the quarter, compared to the consensus estimate of $803.96 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The business’s revenue was down 10.8% on a year-over-year basis. As a group, equities research analysts forecast that Kinross Gold Co. will post 0.16 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KGC. Alps Advisors Inc. raised its holdings in shares of Kinross Gold by 23.1% in the second quarter. Alps Advisors Inc. now owns 1,880,868 shares of the mining company’s stock valued at $8,125,000 after purchasing an additional 352,722 shares during the last quarter. Aperio Group LLC raised its holdings in shares of Kinross Gold by 62.6% in the second quarter. Aperio Group LLC now owns 427,101 shares of the mining company’s stock valued at $1,606,000 after purchasing an additional 164,512 shares during the last quarter. Ruffer LLP raised its holdings in shares of Kinross Gold by 15.6% in the second quarter. Ruffer LLP now owns 40,874,922 shares of the mining company’s stock valued at $153,931,000 after purchasing an additional 5,529,141 shares during the last quarter. Regentatlantic Capital LLC raised its holdings in shares of Kinross Gold by 152.1% in the second quarter. Regentatlantic Capital LLC now owns 28,135 shares of the mining company’s stock valued at $106,000 after purchasing an additional 16,975 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Kinross Gold by 5.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,480,440 shares of the mining company’s stock valued at $16,872,000 after purchasing an additional 229,162 shares during the last quarter. Hedge funds and other institutional investors own 53.77% of the company’s stock.

Kinross Gold Company Profile (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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