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

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

Other analysts have also recently issued reports about the stock. Jefferies Financial Group boosted their price objective on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. CIBC upped their price target on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. BMO Capital Markets raised their price objective on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Scotiabank boosted their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and an average price target of $9.33.

Kinross Gold Stock Performance

NYSE KGC opened at $9.20 on Tuesday. The business’s 50-day moving average price is $8.95 and its 200 day moving average price is $7.69. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Kinross Gold has a twelve month low of $4.32 and a twelve month high of $10.10. The company has a market capitalization of $11.31 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 0.55 and a beta of 1.23.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the firm posted $0.14 EPS. The company’s revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that Kinross Gold will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On Kinross Gold

A number of institutional investors and hedge funds have recently bought and sold shares of KGC. Atlas Capital Advisors LLC acquired a new position in shares of Kinross Gold during the second quarter worth $40,000. Advisor Resource Council acquired a new position in Kinross Gold in the 1st quarter worth $60,000. Sivia Capital Partners LLC purchased a new position in Kinross Gold in the 4th quarter valued at about $63,000. Bright Futures Wealth Management LLC. purchased a new position in Kinross Gold in the 1st quarter valued at about $70,000. Finally, Fifth Third Bancorp grew its stake in shares of Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after acquiring an additional 9,375 shares in the last quarter. Hedge funds and other institutional investors own 63.69% 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 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.