Kinross Gold (NYSE:KGC) Upgraded to Strong-Buy at StockNews.com

Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

KGC has been the topic of a number of other research reports. Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Scotiabank boosted their target price 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. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Kinross Gold Stock Performance

Shares of KGC stock opened at $10.46 on Friday. Kinross Gold has a 52 week low of $4.75 and a 52 week high of $10.82. The company has a market capitalization of $12.85 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.50 and a beta of 1.22. The company has a 50-day simple moving average of $9.74 and a 200 day simple moving average of $8.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 1.61.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. On average, sell-side analysts predict that Kinross Gold will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Kinross Gold during the 3rd quarter valued at about $14,193,000. Ontario Teachers Pension Plan Board raised its position in Kinross Gold by 2.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 161,400 shares of the mining company’s stock worth $1,512,000 after acquiring an additional 4,163 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Kinross Gold by 5.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after purchasing an additional 642,007 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its position in shares of Kinross Gold by 96.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 340,220 shares of the mining company’s stock valued at $3,185,000 after buying an additional 166,830 shares during the last quarter. Finally, Caprock Group LLC increased its holdings in Kinross Gold by 16.5% in the 3rd quarter. Caprock Group LLC now owns 96,824 shares of the mining company’s stock worth $906,000 after acquiring an additional 13,695 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

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.