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

Kinross Gold (NYSE:KGC) (TSE:K) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Separately, CIBC boosted their target price on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average target price of $11.63.

Kinross Gold Price Performance

Kinross Gold stock traded down $0.26 during mid-day trading on Tuesday, reaching $10.80. 18,712,621 shares of the company’s stock traded hands, compared to its average volume of 22,615,297. Kinross Gold has a 12-month low of $4.75 and a 12-month high of $12.28. The company has a market cap of $13.27 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.68 and a beta of 1.24. The stock has a 50 day moving average of $10.54 and a two-hundred day moving average of $9.96. 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 announced its quarterly earnings results 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 net margin of 18.43% and a return on equity of 12.65%. Equities analysts forecast that Kinross Gold will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Kinross Gold

Institutional investors and hedge funds have recently modified their holdings of the business. Polar Asset Management Partners Inc. increased its stake in Kinross Gold by 93.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 185,313 shares of the mining company’s stock worth $1,718,000 after purchasing an additional 89,313 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Kinross Gold by 21.2% in the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company’s stock worth $129,435,000 after purchasing an additional 2,438,445 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in Kinross Gold in the 4th quarter worth about $758,000. Formidable Asset Management LLC bought a new stake in Kinross Gold during the 4th quarter valued at about $420,000. Finally, Public Employees Retirement System of Ohio boosted its position in Kinross Gold by 8.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company’s stock valued at $2,204,000 after buying an additional 18,135 shares during the period. 63.69% of the stock is owned by 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.