Kinross Gold (NYSE:KGC) Stock Rating Upgraded by Zacks Research

Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

A number of other research firms have also issued reports on KGC. Royal Bank Of Canada lowered their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Jefferies Financial Group decreased their price target on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 6th. Weiss Ratings downgraded Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen lowered Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.43.

Kinross Gold Stock Down 2.3%

Shares of Kinross Gold stock opened at $30.18 on Monday. Kinross Gold has a 12-month low of $21.94 and a 12-month high of $39.11. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $26.65 and a two-hundred day moving average price of $28.92. The stock has a market capitalization of $35.74 billion, a P/E ratio of 11.43, a PEG ratio of 0.83 and a beta of 0.84.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. Equities analysts expect that Kinross Gold will post 2.61 earnings per share for the current year.

Hedge Funds Weigh In On Kinross Gold

Several large investors have recently bought and sold shares of KGC. Ascentis Independent Advisors acquired a new stake in Kinross Gold in the 1st quarter worth $29,000. Virtus Advisers LLC bought a new position in shares of Kinross Gold during the 3rd quarter worth about $28,000. Continuum Advisory LLC acquired a new position in shares of Kinross Gold during the second quarter valued at about $26,000. Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after buying an additional 589 shares during the last quarter. Finally, Caitlin John LLC lifted its stake in shares of Kinross Gold by 42.1% in the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock valued at $32,000 after buying an additional 400 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.