Kinross Gold Corp. (NYSE:KGC) Receives Consensus Recommendation of “Buy” from Brokerages
Kinross Gold Corp. (NYSE:KGC) has been given an average rating of “Buy” by the twenty-two ratings firms that are covering the stock. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $5.67.
A number of analysts recently weighed in on KGC shares. Macquarie upgraded shares of Kinross Gold Corp. from an “underperform” rating to a “neutral” rating in a report on Friday, July 1st. BMO Capital Markets restated a “buy” rating and set a $6.50 target price on shares of Kinross Gold Corp. in a report on Thursday, July 28th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Kinross Gold Corp. in a research note on Thursday, June 30th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Kinross Gold Corp. in a research note on Sunday, September 25th. Finally, HSBC reaffirmed a “buy” rating on shares of Kinross Gold Corp. in a research note on Thursday, July 7th.
Kinross Gold Corp. (NYSE:KGC) last issued its earnings results on Wednesday, July 27th. The mining company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.02. The business had revenue of $876.40 million for the quarter, compared to the consensus estimate of $841.98 million. Kinross Gold Corp. had a negative return on equity of 2.35% and a negative net margin of 29.41%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Concert Wealth Management Inc. raised its position in Kinross Gold Corp. by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 21,675 shares of the mining company’s stock worth $106,000 after buying an additional 1,675 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Kinross Gold Corp. during the first quarter valued at about $121,000. Quantitative Systematic Strategies LLC bought a new stake in Kinross Gold Corp. during the second quarter valued at about $169,000. IFP Advisors Inc raised its stake in Kinross Gold Corp. by 52.9% in the second quarter. IFP Advisors Inc now owns 42,620 shares of the mining company’s stock valued at $208,000 after buying an additional 14,750 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in Kinross Gold Corp. during the second quarter valued at about $216,000. Institutional investors and hedge funds own 62.06% of the company’s stock.
About Kinross Gold Corp.
Kinross Gold Corporation is gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. Its segments include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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