Kinross Gold (NYSE:KGC) Earns Hold Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their hold rating on shares of Kinross Gold (NYSE:KGC) (TSE:K) in a research note published on Sunday morning, AnalystRatings.com reports. They currently have a $4.25 target price on the mining company’s stock.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut shares of Kinross Gold from a neutral rating to an underweight rating and set a $3.20 price objective on the stock. in a research report on Thursday, May 30th. ValuEngine upgraded shares of Kinross Gold from a hold rating to a buy rating in a research report on Friday, June 21st. Canaccord Genuity reiterated a buy rating on shares of Kinross Gold in a research report on Friday, July 19th. Zacks Investment Research upgraded shares of Kinross Gold from a hold rating to a buy rating and set a $3.50 price target on the stock in a research report on Tuesday, April 23rd. Finally, Raymond James reiterated an outperform rating and set a $5.00 price target on shares of Kinross Gold in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $3.85.

KGC stock opened at $4.86 on Friday. The company has a 50-day moving average price of $4.25. Kinross Gold has a 12-month low of $2.38 and a 12-month high of $5.17. The stock has a market capitalization of $6.26 billion and a PE ratio of 48.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.88 and a quick ratio of 1.16.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Kinross Gold had a net margin of 0.13% and a return on equity of 2.78%. The firm had revenue of $837.80 million for the quarter, compared to analysts’ expectations of $820.97 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts expect that Kinross Gold will post 0.24 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank boosted its stake in Kinross Gold by 2.9% during the first quarter. Swiss National Bank now owns 9,851,235 shares of the mining company’s stock worth $33,920,000 after acquiring an additional 278,600 shares in the last quarter. Toronto Dominion Bank boosted its stake in Kinross Gold by 27.5% during the first quarter. Toronto Dominion Bank now owns 7,043,462 shares of the mining company’s stock worth $24,238,000 after acquiring an additional 1,520,457 shares in the last quarter. Tocqueville Asset Management L.P. boosted its stake in Kinross Gold by 3.8% during the first quarter. Tocqueville Asset Management L.P. now owns 6,858,967 shares of the mining company’s stock worth $23,595,000 after acquiring an additional 254,100 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Kinross Gold by 10.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,616,655 shares of the mining company’s stock worth $21,706,000 after acquiring an additional 528,490 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Kinross Gold by 24.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,499,958 shares of the mining company’s stock worth $17,425,000 after acquiring an additional 873,800 shares in the last quarter. Institutional investors own 57.94% of the company’s stock.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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