According to Zacks, “Kinross is making steady progress in advancing the projects that provide it strong growth profile among leading gold producers. The Tasiast expansion is expected to contribute to growth in the future. Also, it is focused on managing costs and improving cash flow. However, Kinross remains exposed to a volatile gold price environment. The company needs to improve its reserve base significantly for future growth. Higher cost of sales is another concern. Kinross has also underperformed the industry it belongs to over a year.”
A number of other equities analysts also recently issued reports on the company. Raymond James reissued an outperform rating and set a $4.50 price target on shares of Kinross Gold in a research report on Thursday, February 14th. Credit Suisse Group reissued a hold rating and set a $3.00 price target on shares of Kinross Gold in a research report on Thursday, February 7th. Finally, ValuEngine downgraded Kinross Gold from a buy rating to a hold rating in a research report on Saturday, January 5th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Kinross Gold has an average rating of Hold and an average price target of $4.02.
KGC opened at $3.19 on Monday. Kinross Gold has a 12-month low of $2.38 and a 12-month high of $4.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.89 and a current ratio of 2.61. The firm has a market cap of $4.06 billion, a PE ratio of 31.90 and a beta of -0.09.
Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 13th. The mining company reported $0.01 earnings per share (EPS) for the quarter. Kinross Gold had a positive return on equity of 2.78% and a negative net margin of 0.73%. The business had revenue of $786.50 million for the quarter, compared to the consensus estimate of $761.30 million. During the same quarter in the prior year, the company earned $0.01 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. On average, equities analysts expect that Kinross Gold will post 0.1 EPS for the current year.
A number of hedge funds have recently modified their holdings of KGC. Van ECK Associates Corp boosted its position in Kinross Gold by 115.5% during the fourth quarter. Van ECK Associates Corp now owns 186,875,671 shares of the mining company’s stock valued at $605,477,000 after purchasing an additional 100,146,473 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Kinross Gold by 280.0% during the third quarter. JPMorgan Chase & Co. now owns 33,706,930 shares of the mining company’s stock valued at $91,009,000 after purchasing an additional 24,835,671 shares in the last quarter. Norges Bank bought a new stake in Kinross Gold during the fourth quarter valued at about $47,922,000. Ruffer LLP boosted its position in Kinross Gold by 25.1% during the fourth quarter. Ruffer LLP now owns 68,448,734 shares of the mining company’s stock valued at $215,212,000 after purchasing an additional 13,729,045 shares in the last quarter. Finally, Contrarius Investment Management Ltd boosted its position in Kinross Gold by 88.7% during the fourth quarter. Contrarius Investment Management Ltd now owns 12,490,012 shares of the mining company’s stock valued at $40,468,000 after purchasing an additional 5,871,061 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.
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