UBS Group Begins Coverage on Kinross Gold (NYSE:KGC)

Equities research analysts at UBS Group initiated coverage on shares of Kinross Gold (NYSE:KGC) (TSE:K) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $20.00 price target on the mining company’s stock. UBS Group’s price target suggests a potential upside of 10.13% from the company’s previous close.

KGC has been the topic of several other reports. Raymond James Financial upgraded Kinross Gold to a “hold” rating and set a $15.00 price objective on the stock in a research report on Monday, June 30th. Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 18th. National Bankshares restated an “outperform” rating on shares of Kinross Gold in a research note on Tuesday, June 24th. CIBC increased their price objective on shares of Kinross Gold from $21.00 to $22.00 and gave the company an “outperformer” rating in a report on Friday, August 1st. Finally, Jefferies Financial Group upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $18.50.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $18.16 on Monday. The company has a market capitalization of $22.13 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.57 and a beta of 0.55. Kinross Gold has a 1-year low of $8.08 and a 1-year high of $18.19. The firm’s 50 day simple moving average is $15.62 and its two-hundred day simple moving average is $13.67. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. Kinross Gold’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 EPS. Research analysts expect that Kinross Gold will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new position in Kinross Gold during the first quarter valued at $55,000. Farther Finance Advisors LLC raised its position in shares of Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock valued at $71,000 after buying an additional 3,659 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Kinross Gold during the 1st quarter valued at about $77,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Kinross Gold by 68.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company’s stock valued at $79,000 after acquiring an additional 2,561 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its position in Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock worth $80,000 after acquiring an additional 1,787 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other 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.