Kinross Gold (NYSE:KGC) Rating Lowered to Hold at Cormark

Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by equities researchers at Cormark from a “moderate buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently commented on KGC. Scotiabank restated an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. TD Securities increased their target price on shares of Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Canaccord Genuity Group increased their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Kinross Gold in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $27.56.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $23.81 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The stock’s fifty day moving average price is $23.40 and its two-hundred day moving average price is $18.36. Kinross Gold has a one year low of $8.99 and a one year high of $27.84. The firm has a market cap of $28.80 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 0.42 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 EPS 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 firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 41.7% on a year-over-year basis. On average, equities analysts forecast that Kinross Gold will post 0.81 EPS for the current year.

Institutional Investors Weigh In On Kinross Gold

A number of large investors have recently modified their holdings of the business. Dynasty Wealth Management LLC boosted its holdings in shares of Kinross Gold by 185.4% in the 3rd quarter. Dynasty Wealth Management LLC now owns 226,215 shares of the mining company’s stock valued at $5,621,000 after purchasing an additional 146,955 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Kinross Gold by 13.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,922 shares of the mining company’s stock valued at $857,000 after buying an additional 3,987 shares in the last quarter. Glass Jacobson Investment Advisors llc acquired a new stake in Kinross Gold in the third quarter valued at about $190,000. Massachusetts Financial Services Co. MA boosted its stake in Kinross Gold by 192.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,647,057 shares of the mining company’s stock valued at $90,629,000 after buying an additional 2,398,621 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Kinross Gold by 10.5% in the third quarter. Sequoia Financial Advisors LLC now owns 54,227 shares of the mining company’s stock valued at $1,348,000 after buying an additional 5,158 shares in the last quarter. Institutional investors and hedge funds 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.