StockNews.com Upgrades Kinross Gold (NYSE:KGC) to Strong-Buy

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K was upgraded by research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

KGC has been the subject of several other reports. Jefferies Financial Group raised their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Scotiabank raised their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.50.

Kinross Gold Price Performance

Kinross Gold stock traded down $0.22 during mid-day trading on Friday, hitting $10.47. The company's stock had a trading volume of 20,689,044 shares, compared to its average volume of 15,361,854. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $10.82. The stock's fifty day moving average price is $9.74 and its two-hundred day moving average price is $8.71. The stock has a market capitalization of $12.87 billion, a P/E ratio of 17.16, a P/E/G ratio of 0.50 and a beta of 1.22. The company has a quick ratio of 0.52, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the firm earned $0.12 earnings per share. Kinross Gold's revenue for the quarter was up 29.9% compared to the same quarter last year. Research analysts forecast that Kinross Gold will post 0.66 earnings per share for the current year.

Institutional Trading of Kinross Gold

Several hedge funds and other institutional investors have recently modified their holdings of KGC. Atlas Capital Advisors LLC acquired a new position in Kinross Gold in the 2nd quarter worth about $40,000. Fifth Third Bancorp increased its holdings in Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company's stock worth $80,000 after buying an additional 9,375 shares during the last quarter. Corundum Trust Company INC bought a new position in Kinross Gold during the third quarter valued at approximately $94,000. OneDigital Investment Advisors LLC acquired a new stake in Kinross Gold in the third quarter valued at approximately $94,000. Finally, Fiera Capital Corp bought a new stake in Kinross Gold in the third quarter worth approximately $99,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Company Profile

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.