Kinross Gold (NYSE:KGC) Shares Gap Down to $4.78

Kinross Gold Co. (NYSE:KGC) (TSE:K) shares gapped down prior to trading on Monday . The stock had previously closed at $4.88, but opened at $4.78. Kinross Gold shares last traded at $4.69, with a volume of 15,176,428 shares traded.

A number of analysts have recently commented on the company. ValuEngine raised Kinross Gold from a “hold” rating to a “buy” rating in a research note on Friday, June 21st. Royal Bank of Canada reissued a “hold” rating and issued a $4.25 price objective on shares of Kinross Gold in a research note on Sunday, August 11th. Raymond James reissued an “outperform” rating and issued a $5.00 price objective on shares of Kinross Gold in a research note on Friday, August 2nd. Canaccord Genuity reaffirmed a “buy” rating on shares of Kinross Gold in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. lowered Kinross Gold from a “neutral” rating to an “underweight” rating and set a $3.20 target price on the stock. in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Kinross Gold currently has an average rating of “Hold” and an average price target of $3.85.

The firm has a 50 day moving average of $4.36 and a two-hundred day moving average of $3.63. The stock has a market cap of $5.80 billion and a P/E ratio of 46.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.16 and a current ratio of 2.88.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $837.80 million during the quarter, compared to analysts’ expectations of $820.97 million. Kinross Gold had a return on equity of 2.78% and a net margin of 0.13%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, sell-side analysts anticipate that Kinross Gold Co. will post 0.25 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of KGC. Mercer Global Advisors Inc. ADV acquired a new position in Kinross Gold in the 1st quarter valued at approximately $33,000. K.J. Harrison & Partners Inc acquired a new position in Kinross Gold in the 1st quarter valued at approximately $34,000. Staley Capital Advisers Inc. acquired a new position in Kinross Gold in the 2nd quarter valued at approximately $50,000. Sigma Planning Corp acquired a new position in Kinross Gold in the 1st quarter valued at approximately $52,000. Finally, Private Advisor Group LLC raised its holdings in Kinross Gold by 36.5% in the 2nd quarter. Private Advisor Group LLC now owns 14,386 shares of the mining company’s stock valued at $56,000 after acquiring an additional 3,845 shares in the last quarter. 55.10% of the stock is owned by hedge funds and other institutional investors.

About Kinross Gold (NYSE:KGC)

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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