Trade Report: Today: Kinross Gold Corp. (KGC) gets Neutral status at Bank of America Corp.

Today: Kinross Gold Corp. (KGC) gets Neutral status at Bank of America Corp.

Kinross Gold Corp. (NYSE:KGC) (TSE:K) was downgraded by equities researchers at Bank of America Corp. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday.

Other equities analysts have also recently issued reports about the company. RBC Capital Markets reiterated an “outperform” rating and issued a $10.00 target price on shares of Kinross Gold Corp. in a report on Sunday, September 25th. TD Securities reiterated a “buy” rating and issued a $7.00 target price (down from $7.50) on shares of Kinross Gold Corp. in a report 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 on the stock. in a report on Monday, August 1st. Canaccord Genuity reiterated a “buy” rating and issued a $7.75 target price (down from $8.00) on shares of Kinross Gold Corp. in a report on Thursday, November 3rd. Finally, Citigroup Inc. started coverage on Kinross Gold Corp. in a report on Tuesday, August 2nd. They issued a “neutral” rating and a $5.50 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $5.53.

Shares of Kinross Gold Corp. (NYSE:KGC) opened at 3.17 on Monday. Kinross Gold Corp. has a 12-month low of $1.31 and a 12-month high of $5.82. The company’s 50 day moving average is $3.69 and its 200 day moving average is $4.54. The company’s market capitalization is $3.95 billion.

Kinross Gold Corp. (NYSE:KGC) last posted its quarterly 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. The firm had revenue of $910.20 million for the quarter, compared to analysts’ expectations of $915.18 million. Kinross Gold Corp. had a positive return on equity of 1.23% and a negative net margin of 26.82%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) EPS. Analysts expect that Kinross Gold Corp. will post $0.12 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of KGC. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Kinross Gold Corp. by 6.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,109,990 shares of the mining company’s stock valued at $20,077,000 after buying an additional 236,302 shares in the last quarter. Concert Wealth Management Inc. increased its position in shares of 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 valued at $106,000 after buying an additional 1,675 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Kinross Gold Corp. during the second quarter valued at approximately $169,000. Essex Investment Management Co. LLC increased its position in shares of Kinross Gold Corp. by 19.6% in the second quarter. Essex Investment Management Co. LLC now owns 923,864 shares of the mining company’s stock valued at $4,518,000 after buying an additional 151,631 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in shares of Kinross Gold Corp. by 30.2% in the second quarter. Alps Advisors Inc. now owns 1,674,033 shares of the mining company’s stock valued at $8,186,000 after buying an additional 388,603 shares in the last quarter. Institutional investors and hedge funds own 60.53% of the company’s stock.

Kinross Gold Corp. Company Profile

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