Published On: Sun, Sep 18th, 2016

Kinross Gold Corp. (KGC) Given “Buy” Rating at BMO Capital Markets

Kinross Gold Corp. (NYSE:KGC)‘s stock had its “buy” rating reaffirmed by stock analysts at BMO Capital Markets in a research report issued on Thursday. They currently have a $6.50 price target on the mining company’s stock. BMO Capital Markets’ price target suggests a potential upside of 58.92% from the stock’s current price.
Several other brokerages also recently commented on KGC. Macquarie raised shares of Kinross Gold Corp. from an “underperform” rating to a “neutral” rating in a research report on Friday, July 1st. Credit Suisse Group AG downgraded shares of Kinross Gold Corp. from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $4.50 to $5.50 in a research report on Tuesday, May 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Kinross Gold Corp. in a research report on Thursday, June 30th. Zacks Investment Research downgraded shares of Kinross Gold Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, Deutsche Bank AG downgraded shares of Kinross Gold Corp. from a “hold” rating to a “sell” rating and set a $3.10 price objective for the company. in a research report on Wednesday, May 11th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Kinross Gold Corp. has an average rating of “Buy” and a consensus price target of $5.15.
Kinross Gold Corp. (NYSE:KGC) traded down 0.97% during mid-day trading on Thursday, reaching $4.09. 20,382,276 shares of the company’s stock traded hands. The company has a 50 day moving average price of $4.81 and a 200-day moving average price of $4.56. The stock’s market cap is $5.09 billion. Kinross Gold Corp. has a 12 month low of $1.31 and a 12 month high of $5.82.

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Kinross Gold Corp. (NYSE:KGC) last announced its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by $0.02. The company had revenue of $876.40 million for the quarter, compared to analyst estimates of $841.98 million. Kinross Gold Corp. had a negative return on equity of 2.35% and a negative net margin of 29.41%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS. On average, analysts anticipate that Kinross Gold Corp. will post $0.10 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. Concert Wealth Management Inc. boosted its stake in Kinross Gold Corp. by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 21,675 shares of the mining company’s stock worth $106,000 after buying an additional 1,675 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Kinross Gold Corp. during the second quarter worth about $169,000. Bayesian Capital Management LP purchased a new stake in shares of Kinross Gold Corp. during the first quarter worth about $121,000. IFP Advisors Inc boosted its stake in shares of Kinross Gold Corp. by 52.9% in the second quarter. IFP Advisors Inc now owns 42,620 shares of the mining company’s stock worth $208,000 after buying an additional 14,750 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Kinross Gold Corp. during the second quarter worth about $216,000. Institutional investors own 62.08% of the company’s stock.
About Kinross Gold Corp.
Kinross Gold Corporation is gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. Its segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.

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