BMO Capital Markets reiterated their hold rating on shares of Kinross Gold (NYSE:KGC) (TSE:K) in a research report released on Friday. BMO Capital Markets currently has a $3.25 price target on the mining company’s stock.
Other research analysts have also issued research reports about the company. TD Securities lowered Kinross Gold from an action list buy rating to a buy rating and reduced their price objective for the company from $6.00 to $5.50 in a research report on Saturday, July 14th. Royal Bank of Canada reaffirmed a hold rating on shares of Kinross Gold in a research report on Thursday. Deutsche Bank set a $4.00 price objective on Kinross Gold and gave the company a hold rating in a research report on Tuesday, October 2nd. Credit Suisse Group set a $4.00 price objective on Kinross Gold and gave the company a hold rating in a research report on Tuesday, September 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Kinross Gold from $6.00 to $5.00 and set a neutral rating for the company in a research report on Monday, September 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $4.28.
KGC stock traded down $0.07 on Friday, reaching $2.59. 14,953,706 shares of the company traded hands, compared to its average volume of 15,140,013. Kinross Gold has a one year low of $2.51 and a one year high of $4.78. The company has a quick ratio of 1.88, a current ratio of 3.71 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.34 billion, a PE ratio of 18.50 and a beta of 0.22.
Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.04) earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $753.90 million for the quarter, compared to the consensus estimate of $777.48 million. During the same period last year, the business earned $0.07 EPS. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. On average, research analysts expect that Kinross Gold will post 0.16 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board boosted its stake in Kinross Gold by 24.6% during 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 purchasing an additional 488,200 shares during the last quarter. FIL Ltd purchased a new stake in Kinross Gold during the 3rd quarter valued at $104,000. Fosun International Ltd purchased a new stake in Kinross Gold during the 3rd quarter valued at $410,000. Bank of New York Mellon Corp boosted its stake in Kinross Gold by 13.8% during 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 purchasing an additional 1,832,663 shares during the last quarter. Finally, Tobam boosted its stake in Kinross Gold by 22.8% during the 3rd quarter. Tobam now owns 6,193,118 shares of the mining company’s stock valued at $16,865,000 after purchasing an additional 1,148,000 shares during the last quarter. Institutional investors and hedge funds own 53.65% of the company’s stock.
About Kinross Gold
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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