ValuEngine Lowers Kinross Gold (NYSE:KGC) to Strong Sell

ValuEngine cut shares of Kinross Gold (NYSE:KGC) (TSE:K) from a sell rating to a strong sell rating in a research note issued to investors on Friday, ValuEngine reports.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Other analysts have also recently issued reports about the company. Deutsche Bank set a $4.00 target price on Kinross Gold and gave the company a hold rating in a report on Thursday, July 11th. TD Securities upped their target price on Kinross Gold from $5.00 to $6.00 and gave the company a buy rating in a report on Tuesday, September 17th. Beacon Securities restated a buy rating on shares of Kinross Gold in a report on Tuesday, October 8th. Raymond James restated an outperform rating and issued a $5.00 target price on shares of Kinross Gold in a report on Friday, August 2nd. Finally, Barclays restated an equal weight rating and issued a $5.00 target price on shares of Kinross Gold in a report on Tuesday, October 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $4.77.

NYSE:KGC traded down $0.07 during trading hours on Friday, hitting $4.17. The company had a trading volume of 12,842,134 shares, compared to its average volume of 12,573,919. The company has a current ratio of 2.88, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $4.79 and a 200 day moving average of $4.20. The company has a market cap of $5.99 billion, a P/E ratio of 41.70 and a beta of -0.05. Kinross Gold has a 1 year low of $2.38 and a 1 year high of $5.47.

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

Institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in shares of Kinross Gold by 25.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,389,722 shares of the mining company’s stock valued at $9,272,000 after purchasing an additional 481,674 shares during the last quarter. Fiera Capital Corp lifted its stake in Kinross Gold by 20.8% during the 2nd quarter. Fiera Capital Corp now owns 399,139 shares of the mining company’s stock worth $1,543,000 after acquiring an additional 68,610 shares in the last quarter. Alps Advisors Inc. lifted its stake in Kinross Gold by 48.9% during the 2nd quarter. Alps Advisors Inc. now owns 1,978,817 shares of the mining company’s stock worth $7,678,000 after acquiring an additional 649,926 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Kinross Gold by 24.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,499,958 shares of the mining company’s stock worth $17,425,000 after acquiring an additional 873,800 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in Kinross Gold by 13,062.5% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 421,200 shares of the mining company’s stock worth $1,626,000 after acquiring an additional 418,000 shares in the last quarter. 54.96% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: Understanding Market Liquidity

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Kinross Gold (NYSE:KGC)

Leave a Reply

Your email address will not be published. Required fields are marked *

*