Kinross Gold (NYSE:KGC) Rating Lowered to Market Perform at Raymond James

Kinross Gold (NYSE:KGCGet Rating) (TSE:K) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, The Fly reports.

Other equities analysts have also issued reports about the company. StockNews.com began coverage on Kinross Gold in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TD Securities reduced their price target on Kinross Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, November 11th. Canaccord Genuity Group reduced their price target on Kinross Gold from C$8.00 to C$7.25 and set a “buy” rating on the stock in a research report on Wednesday, November 16th. Finally, National Bank Financial reduced their price target on Kinross Gold from C$9.25 to C$8.25 in a research report on Monday, November 14th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus target price of $6.89.

Kinross Gold Price Performance

NYSE KGC opened at $4.18 on Wednesday. Kinross Gold has a 1-year low of $3.00 and a 1-year high of $6.34. The company has a quick ratio of 1.28, a current ratio of 2.98 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $3.74 and its 200-day simple moving average is $3.76.

Hedge Funds Weigh In On Kinross Gold

A number of institutional investors have recently made changes to their positions in KGC. Van ECK Associates Corp raised its position in shares of Kinross Gold by 71.3% in the 2nd quarter. Van ECK Associates Corp now owns 146,672,975 shares of the mining company’s stock valued at $525,083,000 after purchasing an additional 61,068,468 shares in the last quarter. Ruffer LLP increased its holdings in shares of Kinross Gold by 29.6% in the 1st quarter. Ruffer LLP now owns 76,878,243 shares of the mining company’s stock valued at $451,663,000 after acquiring an additional 17,569,586 shares during the last quarter. Barclays PLC increased its holdings in shares of Kinross Gold by 24.7% in the 3rd quarter. Barclays PLC now owns 75,405,857 shares of the mining company’s stock valued at $283,526,000 after acquiring an additional 14,955,650 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Kinross Gold by 374.2% in the 1st quarter. 1832 Asset Management L.P. now owns 11,766,352 shares of the mining company’s stock valued at $68,230,000 after acquiring an additional 9,285,284 shares during the last quarter. Finally, Credit Suisse AG increased its holdings in shares of Kinross Gold by 149.2% in the 2nd quarter. Credit Suisse AG now owns 9,660,612 shares of the mining company’s stock valued at $34,585,000 after acquiring an additional 5,783,893 shares during the last quarter. 55.00% of the stock is owned by institutional investors and hedge funds.

About Kinross Gold

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Kinross Gold Corp. engages in the production, acquisition, exploration, and development of gold properties. Its mining operations are in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The firm operates through the following business segments: Fort Knox, Round Mountain, Bald Mountain, Kupol, Paracatu, Tasiast, Chirano, and Corporate & Other.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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