Trade Report: Today, Kinross Gold Corp. (KGC) Cut to Neutral at Bank of America Corp.

Today, Kinross Gold Corp. (KGC) Cut to Neutral at Bank of America Corp.

Bank of America Corp. lowered shares of Kinross Gold Corp. (NYSE:KGC) (TSE:K) from a buy rating to a neutral rating in a research note released on Tuesday morning.

A number of other research firms have also recently issued reports on KGC. BMO Capital Markets reissued a buy rating and set a $6.50 target price on shares of Kinross Gold Corp. in a research note on Thursday, July 28th. RBC Capital Markets reissued an outperform rating and set a $10.00 target price on shares of Kinross Gold Corp. in a research note on Sunday, September 25th. TD Securities reissued a buy rating and set a $7.00 target price (down from $7.50) on shares of Kinross Gold Corp. in a research note on Thursday, August 4th. Vetr cut Kinross Gold Corp. from a strong-buy rating to a buy rating and set a $5.70 target price for the company. in a research note on Monday, August 1st. Finally, Canaccord Genuity reissued a buy rating and set a $7.75 target price (down from $8.00) on shares of Kinross Gold Corp. in a research note on Thursday, November 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Kinross Gold Corp. presently has a consensus rating of Hold and an average target price of $5.53.

Kinross Gold Corp. (NYSE:KGC) opened at 3.17 on Tuesday. The stock has a 50 day moving average of $3.70 and a 200-day moving average of $4.55. Kinross Gold Corp. has a 52-week low of $1.31 and a 52-week high of $5.82. The company’s market capitalization is $3.95 billion.

Kinross Gold Corp. (NYSE:KGC) last posted its earnings results on Wednesday, November 2nd. The mining company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Kinross Gold Corp. had a positive return on equity of 1.23% and a negative net margin of 26.82%. The business earned $910.20 million during the quarter, compared to analysts’ expectations of $915.18 million. During the same period in the prior year, the business earned ($0.02) EPS. Kinross Gold Corp.’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts forecast that Kinross Gold Corp. will post $0.12 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Lombard Odier Asset Management Europe Ltd purchased a new stake in Kinross Gold Corp. during the third quarter worth $104,000. Concert Wealth Management Inc. increased its stake in Kinross Gold Corp. by 8.4% in the second quarter. Concert Wealth Management Inc. now owns 21,675 shares of the mining company’s stock worth $106,000 after buying an additional 1,675 shares in the last quarter. Exane Derivatives increased its stake in Kinross Gold Corp. by 2,813,200.0% in the third quarter. Exane Derivatives now owns 28,133 shares of the mining company’s stock worth $118,000 after buying an additional 28,132 shares in the last quarter. Acrospire Investment Management LLC increased its stake in Kinross Gold Corp. by 101.9% in the third quarter. Acrospire Investment Management LLC now owns 31,900 shares of the mining company’s stock worth $134,000 after buying an additional 16,100 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Kinross Gold Corp. during the second quarter worth $169,000. 60.71% of the stock is owned by institutional investors.

Kinross Gold Corp. Company Profile

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