Kinross Gold (NYSE:KGC) Stock Rating Lowered by Wall Street Zen

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

Other equities research analysts have also recently issued research reports about the company. UBS Group set a $43.00 price objective on Kinross Gold in a report on Friday, January 30th. Desjardins initiated coverage on Kinross Gold in a research note on Friday, November 28th. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a report on Wednesday, February 4th. Finally, Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.81.

Kinross Gold Price Performance

Kinross Gold stock opened at $36.93 on Monday. The stock has a market capitalization of $44.31 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.86 and a beta of 0.73. Kinross Gold has a 12-month low of $10.32 and a 12-month high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. The firm’s 50-day moving average is $33.00 and its two-hundred day moving average is $27.31.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Equities analysts predict that Kinross Gold will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Kinross Gold

Several institutional investors have recently bought and sold shares of KGC. V Square Quantitative Management LLC purchased a new position in shares of Kinross Gold in the 4th quarter valued at $26,000. Financial Management Professionals Inc. acquired a new stake in Kinross Gold in the 4th quarter valued at $26,000. Caitlin John LLC purchased a new position in Kinross Gold in the third quarter valued at about $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold during the third quarter worth about $28,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in shares of Kinross Gold during the third quarter worth about $29,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

About Kinross Gold

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.