Zacks Investment Research cut shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) from a buy rating to a hold rating in a research report sent to investors on Friday.

According to Zacks, “Kinross has outperformed the industry it belongs to over a year. Kinross is making steady progress in advancing the projects that give it a strong growth profile among leading gold producers. The Tasiast expansion is expected to significantly contribute to the company’s future growth. The company also remains focused on managing costs and improving cash flow. However, Kinross remains exposed to a sluggish global economy and volatile gold prices. The company needs to improve its reserve base significantly for future growth. “

Several other equities research analysts have also recently weighed in on the stock. Citigroup Inc. raised shares of Kinross Gold Corporation from a sell rating to a neutral rating and increased their price target for the company from $3.25 to $4.75 in a research report on Friday, September 1st. Royal Bank Of Canada set a $5.00 price target on shares of Kinross Gold Corporation and gave the company a buy rating in a research report on Tuesday, July 18th. TD Securities raised shares of Kinross Gold Corporation to a buy rating in a research report on Thursday, June 29th. BidaskClub raised shares of Kinross Gold Corporation from a sell rating to a hold rating in a research report on Wednesday, July 19th. Finally, ValuEngine raised shares of Kinross Gold Corporation from a sell rating to a hold rating in a research report on Friday, September 1st. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $5.17.

Kinross Gold Corporation (KGC) opened at 4.29 on Friday. Kinross Gold Corporation has a 52 week low of $2.88 and a 52 week high of $4.91. The company’s 50-day moving average is $4.43 and its 200-day moving average is $4.10. The company has a market cap of $5.35 billion, a P/E ratio of 102.14 and a beta of 0.12.

Kinross Gold Corporation (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, August 2nd. The mining company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The business had revenue of $868.60 million during the quarter, compared to analysts’ expectations of $825.02 million. Kinross Gold Corporation had a net margin of 1.54% and a return on equity of 3.63%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) EPS. On average, analysts anticipate that Kinross Gold Corporation will post $0.11 EPS for the current fiscal year.

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Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Kinross Gold Corporation by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 29,071,742 shares of the mining company’s stock worth $118,322,000 after acquiring an additional 1,276,166 shares in the last quarter. Odey Asset Management Group Ltd increased its stake in shares of Kinross Gold Corporation by 11.1% in the 2nd quarter. Odey Asset Management Group Ltd now owns 26,306,662 shares of the mining company’s stock worth $107,068,000 after acquiring an additional 2,618,245 shares in the last quarter. Contrarius Investment Management Ltd increased its stake in shares of Kinross Gold Corporation by 4.0% in the 2nd quarter. Contrarius Investment Management Ltd now owns 16,214,176 shares of the mining company’s stock worth $65,992,000 after acquiring an additional 626,077 shares in the last quarter. CIBC World Markets Inc. increased its stake in shares of Kinross Gold Corporation by 1.5% in the 2nd quarter. CIBC World Markets Inc. now owns 15,919,332 shares of the mining company’s stock worth $64,792,000 after acquiring an additional 234,073 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of Kinross Gold Corporation by 6.5% in the 1st quarter. Bank of Nova Scotia now owns 9,236,947 shares of the mining company’s stock worth $32,577,000 after acquiring an additional 565,390 shares in the last quarter. 59.56% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Corporation Company Profile

Kinross Gold Corporation is a 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. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.

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Analyst Recommendations for Kinross Gold Corporation (NYSE:KGC)

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