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

Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities analysts have also issued reports on KGC. Jefferies Financial Group boosted 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. Scotiabank upped their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, CIBC lifted their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.50.

Kinross Gold Trading Down 1.0 %

Shares of NYSE:KGC traded down $0.11 during mid-day trading on Friday, hitting $9.98. The stock had a trading volume of 13,867,456 shares, compared to its average volume of 15,249,173. The company’s 50 day moving average is $9.62 and its 200-day moving average is $8.58. The company has a market cap of $12.26 billion, a PE ratio of 24.33, a P/E/G ratio of 0.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. Kinross Gold has a 12-month low of $4.75 and a 12-month high of $10.82.

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

Institutional Investors Weigh In On Kinross Gold

Large investors have recently modified their holdings of the company. Hussman Strategic Advisors Inc. boosted its position in shares of Kinross Gold by 25.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 127,500 shares of the mining company’s stock worth $782,000 after purchasing an additional 25,500 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Kinross Gold by 616.7% during the first quarter. Daiwa Securities Group Inc. now owns 25,800 shares of the mining company’s stock valued at $158,000 after buying an additional 22,200 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Kinross Gold in the 1st quarter worth $1,095,000. Primoris Wealth Advisors LLC bought a new stake in Kinross Gold in the 1st quarter worth about $164,000. Finally, First Eagle Investment Management LLC bought a new position in shares of Kinross Gold in the first quarter valued at approximately $23,907,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.