Kinross Gold (NYSE:KGC) Lowered to Buy Rating by StockNews.com

StockNews.com downgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

KGC has been the subject of a number of other reports. CIBC raised their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank raised their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group increased their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded down $0.10 on Friday, hitting $9.98. 13,884,726 shares of the company were exchanged, compared to its average volume of 13,336,050. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. The company’s 50 day moving average price is $9.62 and its two-hundred day moving average price is $8.58. Kinross Gold has a one year low of $4.75 and a one year high of $10.82. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 0.53 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 EPS. Research analysts expect that Kinross Gold will post 0.64 earnings per share for the current year.

Institutional Investors Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in shares of Kinross Gold by 8.7% during the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after acquiring an additional 981 shares during the period. First Trust Direct Indexing L.P. raised its position in shares of Kinross Gold by 2.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock valued at $447,000 after buying an additional 1,235 shares in the last quarter. Cetera Advisors LLC boosted its stake in Kinross Gold by 10.1% in the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after buying an additional 1,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Kinross Gold by 18.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after purchasing an additional 2,180 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Kinross Gold by 9.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after acquiring an additional 2,200 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.