Kinross Gold (NYSE:KGC) Raised to Strong-Buy at Wall Street Zen

Kinross Gold (NYSE:KGC) (TSE:K) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

KGC has been the topic of a number of other reports. Jefferies Financial Group raised Kinross Gold from a “hold” rating to a “buy” rating and raised their price objective for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. CIBC raised their target price on Kinross Gold from $21.00 to $22.00 and gave the company an “outperformer” rating in a report on Friday, August 1st. Canaccord Genuity Group raised their target price on Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. UBS Group raised their target price on Kinross Gold from $20.00 to $27.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Raymond James Financial raised Kinross Gold to a “hold” rating and set a $15.00 target price on the stock in a report on Monday, June 30th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $21.07.

Kinross Gold Stock Up 0.3%

Shares of KGC stock opened at $25.03 on Friday. The stock’s 50 day simple moving average is $20.91 and its 200 day simple moving average is $16.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold has a twelve month low of $8.99 and a twelve month high of $25.78. The company has a market capitalization of $30.34 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 0.80 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data 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. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business earned $0.14 EPS. The firm’s revenue was up 41.7% compared to the same quarter last year. As a group, research analysts predict that Kinross Gold will post 0.81 EPS for the current year.

Institutional Trading of Kinross Gold

Several institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC grew its holdings in shares of Kinross Gold by 8.5% during the 2nd quarter. Corient Private Wealth LLC now owns 52,651 shares of the mining company’s stock worth $823,000 after purchasing an additional 4,128 shares in the last quarter. V. M. Manning & CO. Inc. acquired a new stake in shares of Kinross Gold during the 2nd quarter worth approximately $278,000. Osaic Holdings Inc. grew its holdings in shares of Kinross Gold by 203.0% during the 2nd quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock worth $2,388,000 after purchasing an additional 102,348 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Kinross Gold by 49.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 53,363 shares of the mining company’s stock worth $834,000 after purchasing an additional 17,694 shares in the last quarter. Finally, Marex Group plc acquired a new stake in shares of Kinross Gold during the 2nd quarter worth approximately $543,000. Institutional investors and hedge funds 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.