Kinross Gold (KGC) Price Target Lowered to $5.00 at TD Securities

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Kinross Gold (NYSE:KGC) (TSE:K) had its target price lowered by TD Securities from $5.50 to $5.00 in a report released on Friday. The firm currently has a buy rating on the mining company’s stock.

Several other equities research analysts have also weighed in on KGC. ValuEngine lowered shares of Kinross Gold from a sell rating to a strong sell rating in a research note on Friday, August 17th. Royal Bank of Canada lowered shares of Kinross Gold from an outperform rating to a sector perform rating and dropped their price objective for the stock from $5.00 to $4.75 in a research note on Monday, August 20th. They noted that the move was a valuation call. Citigroup dropped their price objective on shares of Kinross Gold from $4.00 to $3.25 and set a neutral rating on the stock in a research note on Wednesday, August 29th. Credit Suisse Group assumed coverage on shares of Kinross Gold in a research note on Thursday, September 6th. They set a neutral rating and a $4.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Kinross Gold from $6.00 to $5.00 and set a neutral rating for the company in a research report on Monday, September 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $4.28.

KGC traded down $0.07 on Friday, hitting $2.59. 14,953,706 shares of the company’s stock were exchanged, compared to its average volume of 15,140,013. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 18.50 and a beta of 0.22. Kinross Gold has a twelve month low of $2.51 and a twelve month high of $4.78. The company has a quick ratio of 1.88, a current ratio of 3.71 and a debt-to-equity ratio of 0.37.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). The business had revenue of $753.90 million for the quarter, compared to analyst estimates of $777.48 million. Kinross Gold had a return on equity of 2.81% and a net margin of 6.85%. Kinross Gold’s revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. Research analysts anticipate that Kinross Gold will post 0.16 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of KGC. FIL Ltd bought a new position in Kinross Gold in the 3rd quarter worth about $104,000. Regentatlantic Capital LLC grew its position in Kinross Gold by 152.1% in the 2nd quarter. Regentatlantic Capital LLC now owns 28,135 shares of the mining company’s stock worth $106,000 after purchasing an additional 16,975 shares during the last quarter. Vanguard Capital Wealth Advisors bought a new position in Kinross Gold in the 2nd quarter worth about $182,000. Nomura Holdings Inc. bought a new position in Kinross Gold in the 2nd quarter worth about $248,000. Finally, Gamco Investors INC. ET AL grew its position in Kinross Gold by 126.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 101,800 shares of the mining company’s stock worth $275,000 after purchasing an additional 56,800 shares during the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, extraction, and processing of gold-containing ore. It also engages in the reclamation of gold mining properties; and production and sale of silver. The company's gold production and exploration activities are carried out principally in Canada, the United States, Russia, Brazil, Chile, Ghana, and Mauritania.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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