Kinross Gold (NYSE:KGC) Stock Rating Lowered by ValuEngine

Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday, ValuEngine reports.

KGC has been the subject of several other reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Kinross Gold in a research note on Friday, July 19th. Royal Bank of Canada reiterated a “hold” rating and issued a $4.25 price target on shares of Kinross Gold in a research note on Sunday, August 11th. Raymond James reissued an “outperform” rating and set a $5.00 price objective on shares of Kinross Gold in a report on Friday, August 2nd. Deutsche Bank set a $4.00 price objective on shares of Kinross Gold and gave the company a “hold” rating in a report on Thursday, July 11th. Finally, Citigroup raised their price objective on Kinross Gold from $4.00 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $4.02.

KGC stock traded up $0.03 during midday trading on Wednesday, hitting $4.83. The company’s stock had a trading volume of 15,930,494 shares, compared to its average volume of 12,185,390. Kinross Gold has a 12 month low of $2.38 and a 12 month high of $5.32. The company has a quick ratio of 1.16, a current ratio of 2.88 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 48.30 and a beta of -0.06. The company has a 50 day moving average of $4.80 and a two-hundred day moving average of $3.81.

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 the consensus estimate 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 last year, the business posted $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, analysts anticipate that Kinross Gold will post 0.26 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in KGC. Mercer Global Advisors Inc. ADV bought a new position in Kinross Gold during the first quarter valued at $33,000. Staley Capital Advisers Inc. purchased a new stake in shares of Kinross Gold during the 2nd quarter valued at about $50,000. Sigma Planning Corp purchased a new stake in shares of Kinross Gold during the 1st quarter valued at about $52,000. Private Advisor Group LLC lifted its holdings in shares of 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 during the last quarter. Finally, Cetera Advisor Networks LLC bought a new position in shares of Kinross Gold in the 1st quarter valued at about $69,000. Institutional investors own 54.86% 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 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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