Kinross Gold (NYSE:KGC) Coverage Initiated at BMO Capital Markets

Investment analysts at BMO Capital Markets started coverage on shares of Kinross Gold (NYSE:KGC) (TSE:K) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating on the mining company’s stock.

Several other equities research analysts have also recently weighed in on the stock. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. CIBC increased their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Raymond James raised their target price on Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 4th. Finally, StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 4th. Two analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Kinross Gold has an average rating of “Buy” and an average target price of $13.30.

Kinross Gold Stock Performance

NYSE KGC opened at $14.80 on Wednesday. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 0.68 and a beta of 1.12. Kinross Gold has a twelve month low of $6.34 and a twelve month high of $15.34. The stock has a fifty day simple moving average of $12.06 and a 200 day simple moving average of $10.78. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Sell-side analysts expect that Kinross Gold will post 0.81 EPS for the current year.

Institutional Trading of Kinross Gold

Several hedge funds have recently bought and sold shares of KGC. Van ECK Associates Corp lifted its stake in shares of Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after buying an additional 44,610,091 shares in the last quarter. Norges Bank acquired a new stake in shares of Kinross Gold in the 4th quarter worth about $280,697,000. Man Group plc lifted its position in Kinross Gold by 174.2% in the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock valued at $85,685,000 after acquiring an additional 5,871,904 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Kinross Gold by 80.9% during the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after purchasing an additional 5,639,383 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after purchasing an additional 3,224,455 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

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.