Kinross Gold (NYSE:KGC) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of Kinross Gold (NYSE:KGC) (TSE:K) from a strong-buy rating to a buy rating in a report issued on Friday morning.

KGC has been the topic of a number of other reports. Jefferies Financial Group increased their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Scotiabank boosted their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, CIBC raised their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.50.

Kinross Gold Stock Down 0.1 %

NYSE:KGC opened at $9.97 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $9.64 and its two-hundred day moving average is $8.63. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $10.82. The company has a market cap of $12.25 billion, a PE ratio of 24.32, a P/E/G ratio of 0.53 and a beta of 1.22.

Institutional Trading of Kinross Gold

Several institutional investors have recently modified their holdings of the stock. Artemis Investment Management LLP lifted its position in shares of Kinross Gold by 321.5% in the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock valued at $55,707,000 after acquiring an additional 5,107,120 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in Kinross Gold in the 1st quarter valued at $23,907,000. Allspring Global Investments Holdings LLC lifted its holdings in Kinross Gold by 634.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock valued at $36,971,000 after purchasing an additional 3,405,478 shares in the last quarter. National Bank of Canada FI boosted its stake in Kinross Gold by 31.2% during the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after purchasing an additional 2,267,999 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Kinross Gold by 64.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,749,480 shares of the mining company’s stock worth $29,115,000 after buying an additional 1,856,478 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

About Kinross Gold

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.