Kinross Gold Co. (NYSE:KGC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) have received an average recommendation of “Moderate Buy” from the three analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $11.13.

Separately, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th.

Institutional Investors Weigh In On Kinross Gold

Several hedge funds have recently bought and sold shares of the stock. Capstone Investment Advisors LLC purchased a new position in shares of Kinross Gold during the 3rd quarter valued at approximately $774,000. International Assets Investment Management LLC purchased a new position in shares of Kinross Gold during the 3rd quarter valued at approximately $780,000. Geode Capital Management LLC lifted its position in shares of Kinross Gold by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock valued at $54,803,000 after buying an additional 828,456 shares in the last quarter. Raymond James & Associates lifted its position in shares of Kinross Gold by 25.7% during the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock valued at $3,186,000 after buying an additional 69,520 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Kinross Gold by 5.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after buying an additional 642,007 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC opened at $11.45 on Tuesday. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $11.68. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The company has a market cap of $14.07 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 0.61 and a beta of 1.23. The firm’s 50-day moving average price is $10.01 and its 200-day moving average price is $9.64.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. As a group, equities analysts anticipate that Kinross Gold will post 0.72 EPS for the current fiscal year.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.