Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $4.00 price target on the mining company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 19.05% from the stock’s previous close.
According to Zacks, “Kinross swung to loss in fourth-quarter 2018. Nevertheless, adjusted earnings and sales topped their respective Zacks Consensus Estimate. The company is making steady progress in advancing the projects that provide it strong growth profile among leading gold producers. The Tasiast expansion is expected to contribute to growth in the future. Also, it is focused on managing costs and improving cash flow.”
Several other analysts have also weighed in on the company. ValuEngine upgraded Kinross Gold from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Credit Suisse Group lowered Kinross Gold from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 19th. Royal Bank of Canada set a $4.00 price objective on Kinross Gold and gave the company a “hold” rating in a report on Wednesday, December 12th. Raymond James restated an “outperform” rating and issued a $4.50 price objective on shares of Kinross Gold in a report on Thursday, February 14th. Finally, Beacon Securities restated a “buy” rating on shares of Kinross Gold in a report on Monday, November 19th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $4.07.
Shares of KGC stock opened at $3.36 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 2.61 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 33.60 and a beta of -0.10. Kinross Gold has a 1 year low of $2.38 and a 1 year high of $4.12.
Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 13th. The mining company reported $0.01 earnings per share for the quarter. The business had revenue of $786.50 million during the quarter, compared to analyst estimates of $761.30 million. Kinross Gold had a positive return on equity of 2.78% and a negative net margin of 0.73%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Equities analysts expect that Kinross Gold will post 0.13 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Kinross Gold by 115.5% during the fourth quarter. Van ECK Associates Corp now owns 186,875,671 shares of the mining company’s stock worth $605,477,000 after purchasing an additional 100,146,473 shares during the period. Ruffer LLP raised its position in shares of Kinross Gold by 25.1% during the fourth quarter. Ruffer LLP now owns 68,448,734 shares of the mining company’s stock worth $215,212,000 after purchasing an additional 13,729,045 shares during the period. Renaissance Technologies LLC raised its position in shares of Kinross Gold by 1.9% during the third quarter. Renaissance Technologies LLC now owns 55,569,999 shares of the mining company’s stock worth $150,039,000 after purchasing an additional 1,014,700 shares during the period. Vanguard Group Inc. raised its position in Kinross Gold by 4.3% during the third quarter. Vanguard Group Inc. now owns 34,603,334 shares of the mining company’s stock valued at $93,429,000 after buying an additional 1,414,800 shares during the period. Finally, Vanguard Group Inc raised its position in Kinross Gold by 4.3% during the third quarter. Vanguard Group Inc now owns 34,603,334 shares of the mining company’s stock valued at $93,429,000 after buying an additional 1,414,800 shares during the period. 60.20% of the stock is currently owned by institutional investors.
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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