Kinross Gold (NYSE:KGC) (TSE:K) had its price objective lowered by TD Securities from $5.50 to $5.00 in a report released on Friday morning. TD Securities currently has a buy rating on the mining company’s stock.
Other analysts have also issued reports about the stock. BMO Capital Markets reissued a hold rating and set a $3.25 target price on shares of Kinross Gold in a research note on Friday. Royal Bank of Canada reissued a hold rating on shares of Kinross Gold in a research note on Thursday. Deutsche Bank set a $4.00 target price on shares of Kinross Gold and gave the company a hold rating in a research note on Tuesday, October 2nd. Credit Suisse Group set a $4.00 target price on shares of Kinross Gold and gave the company a hold rating in a research note on Tuesday, September 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Kinross Gold from $6.00 to $5.00 and set a neutral rating for the company in a research note on Monday, September 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $4.28.
Shares of Kinross Gold stock traded down $0.07 on Friday, hitting $2.59. The company had a trading volume of 14,953,706 shares, compared to its average volume of 15,140,013. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.71 and a quick ratio of 1.88. The stock has a market capitalization of $3.34 billion, a PE ratio of 18.50 and a beta of 0.22. Kinross Gold has a 52 week low of $2.51 and a 52 week high of $4.78.
Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, November 7th. The mining company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). Kinross Gold had a net margin of 6.85% and a return on equity of 2.81%. The business had revenue of $753.90 million for the quarter, compared to analyst estimates of $777.48 million. During the same period in the prior year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, analysts forecast that Kinross Gold will post 0.16 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board lifted its position in shares of Kinross Gold by 24.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,476,245 shares of the mining company’s stock valued at $6,714,000 after acquiring an additional 488,200 shares in the last quarter. FIL Ltd purchased a new stake in shares of Kinross Gold in the 3rd quarter valued at approximately $104,000. Fosun International Ltd purchased a new stake in shares of Kinross Gold in the 3rd quarter valued at approximately $410,000. Bank of New York Mellon Corp lifted its position in shares of Kinross Gold by 13.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 15,122,219 shares of the mining company’s stock valued at $40,830,000 after acquiring an additional 1,832,663 shares in the last quarter. Finally, Tobam lifted its position in shares of Kinross Gold by 22.8% in the 3rd quarter. Tobam now owns 6,193,118 shares of the mining company’s stock valued at $16,865,000 after acquiring an additional 1,148,000 shares in the last quarter. Institutional investors and hedge funds own 53.65% of the company’s stock.
Kinross Gold Company Profile
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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