Wall Street Zen Downgrades Kinross Gold (NYSE:KGC) to Buy

Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other equities analysts have also issued reports on the company. Desjardins assumed coverage on Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Cormark cut shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Scotiabank boosted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.81.

Kinross Gold Stock Performance

KGC stock opened at $34.42 on Friday. The business’s 50-day moving average price is $31.54 and its two-hundred day moving average price is $25.98. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. The firm has a market cap of $41.30 billion, a PE ratio of 24.07, a P/E/G ratio of 0.34 and a beta of 0.74. Kinross Gold has a 1-year low of $10.32 and a 1-year high of $39.11.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Caitlin John LLC bought a new stake in Kinross Gold during the 3rd quarter worth about $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Kinross Gold in the fourth quarter valued at about $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold during the fourth quarter worth about $26,000. Virtus Advisers LLC acquired a new position in Kinross Gold during the third quarter valued at approximately $28,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in Kinross Gold during the third quarter valued at approximately $29,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.