Kinross Gold (NYSE:KGC) Cut to Strong Sell at ValuEngine

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Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Friday, ValuEngine reports.

Several other research analysts also recently issued reports on KGC. Beacon Securities reiterated a “buy” rating on shares of Kinross Gold in a research note on Tuesday, October 8th. Canaccord Genuity reiterated a “buy” rating on shares of Kinross Gold in a research note on Friday, July 19th. Raymond James reiterated an “outperform” rating and issued a $5.00 target price on shares of Kinross Gold in a research note on Friday, August 2nd. Barclays reiterated an “equal weight” rating and issued a $5.00 target price on shares of Kinross Gold in a research note on Tuesday, October 15th. They noted that the move was a valuation call. Finally, CIBC set a $6.00 target price on shares of Kinross Gold and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Kinross Gold presently has an average rating of “Hold” and an average target price of $4.77.

NYSE:KGC traded down $0.07 during mid-day trading on Friday, hitting $4.17. 12,842,134 shares of the company’s stock were exchanged, compared to its average volume of 12,573,919. Kinross Gold has a one year low of $2.38 and a one year high of $5.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.88 and a quick ratio of 1.16. The business has a fifty day moving average price of $4.79 and a 200 day moving average price of $4.20. The company has a market cap of $5.99 billion, a PE ratio of 41.70 and a beta of -0.05.

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, hitting the consensus estimate of $0.08. The firm had revenue of $877.10 million for 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 business’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. On average, equities analysts forecast that Kinross Gold will post 0.31 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Kinross Gold by 2.6% during the second quarter. Vanguard Group Inc. now owns 37,111,808 shares of the mining company’s stock valued at $143,993,000 after purchasing an additional 955,512 shares during the period. Morgan Stanley lifted its position in Kinross Gold by 15.9% during the second quarter. Morgan Stanley now owns 19,222,953 shares of the mining company’s stock valued at $74,584,000 after purchasing an additional 2,640,448 shares during the period. Polunin Capital Partners Ltd lifted its position in Kinross Gold by 2.3% during the third quarter. Polunin Capital Partners Ltd now owns 11,562,211 shares of the mining company’s stock valued at $53,186,000 after purchasing an additional 256,100 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Kinross Gold by 1.1% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,677,176 shares of the mining company’s stock valued at $26,154,000 after purchasing an additional 60,521 shares during the period. Finally, United Services Automobile Association lifted its position in Kinross Gold by 0.9% during the second quarter. United Services Automobile Association now owns 4,585,467 shares of the mining company’s stock valued at $17,792,000 after purchasing an additional 39,638 shares during the period. Hedge funds and other institutional investors own 54.96% of the company’s stock.

About Kinross Gold

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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