Kinross Gold (NYSE:KGC) Given “Outperform” Rating at Raymond James

Kinross Gold (NYSE:KGC) (TSE:K)‘s stock had its “outperform” rating reiterated by stock analysts at Raymond James in a research report issued to clients and investors on Friday, BayStreet.CA reports. They presently have a $6.00 target price on the mining company’s stock. Raymond James’ price target suggests a potential upside of 43.88% from the company’s current price. Raymond James also issued estimates for Kinross Gold’s Q4 2019 earnings at $0.12 EPS, FY2019 earnings at $0.28 EPS, Q1 2020 earnings at $0.09 EPS, Q2 2020 earnings at $0.09 EPS, Q3 2020 earnings at $0.09 EPS, Q4 2020 earnings at $0.10 EPS, FY2020 earnings at $0.37 EPS and FY2021 earnings at $0.45 EPS.

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Other analysts also recently issued research reports about the stock. Beacon Securities reissued a “buy” rating on shares of Kinross Gold in a research report on Tuesday, October 8th. Citigroup increased their target price on shares of Kinross Gold from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. TD Securities increased their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. CIBC set a $6.00 target price on shares of Kinross Gold and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Kinross Gold in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $4.77.

KGC traded down $0.07 on Friday, reaching $4.17. 12,842,134 shares of the company’s stock were exchanged, compared to its average volume of 12,573,919. The company’s 50 day moving average is $4.79 and its 200-day moving average is $4.20. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 41.70 and a beta of -0.05. Kinross Gold has a twelve month low of $2.38 and a twelve month high of $5.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.16 and a current ratio of 2.88.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, November 6th. The mining company reported $0.08 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.08. The firm had revenue of $877.10 million during the quarter, compared to the consensus estimate of $908.75 million. Kinross Gold had a net margin of 0.13% and a return on equity of 2.78%. The company’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. Sell-side analysts forecast that Kinross Gold will post 0.31 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KGC. Price T Rowe Associates Inc. MD boosted its holdings in Kinross Gold by 8,141.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,884,336 shares of the mining company’s stock worth $11,169,000 after acquiring an additional 2,849,336 shares during the period. Morgan Stanley boosted its holdings in Kinross Gold by 15.9% in the 2nd quarter. Morgan Stanley now owns 19,222,953 shares of the mining company’s stock worth $74,584,000 after acquiring an additional 2,640,448 shares during the period. Russell Investments Group Ltd. boosted its holdings in Kinross Gold by 229.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,460,368 shares of the mining company’s stock worth $15,941,000 after acquiring an additional 2,410,177 shares during the period. Acadian Asset Management LLC boosted its holdings in Kinross Gold by 4,499.6% in the 2nd quarter. Acadian Asset Management LLC now owns 2,320,244 shares of the mining company’s stock worth $8,985,000 after acquiring an additional 2,269,800 shares during the period. Finally, Polunin Capital Partners Ltd boosted its holdings in Kinross Gold by 19.0% in the 2nd quarter. Polunin Capital Partners Ltd now owns 11,306,111 shares of the mining company’s stock worth $45,450,000 after acquiring an additional 1,806,103 shares during the period. Hedge funds and other institutional investors own 54.96% 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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