Kinross Gold (NYSE:KGC) Given New $37.00 Price Target at UBS Group

Kinross Gold (NYSE:KGC) (TSE:K) had its price objective dropped by stock analysts at UBS Group from $43.00 to $37.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the mining company’s stock. UBS Group’s price objective points to a potential upside of 29.13% from the company’s current price.

Several other analysts have also recently weighed in on the company. TD Securities lowered their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Desjardins began coverage on Kinross Gold in a research note on Friday, November 28th. They set a “buy” rating for the company. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. Zacks Research cut Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Stock Performance

Kinross Gold stock traded up $0.76 during mid-day trading on Friday, reaching $28.65. The company’s stock had a trading volume of 4,803,142 shares, compared to its average volume of 11,869,595. The firm’s fifty day moving average price is $33.30 and its two-hundred day moving average price is $28.63. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. Kinross Gold has a 12-month low of $11.12 and a 12-month high of $39.11. The company has a market capitalization of $34.32 billion, a P/E ratio of 14.64, a PEG ratio of 1.42 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the business posted $0.20 earnings per share. The business’s quarterly revenue was up 42.9% on a year-over-year basis. Sell-side analysts predict that Kinross Gold will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KGC. Caitlin John LLC bought a new stake in shares of Kinross Gold during the third quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new position in Kinross Gold in the fourth quarter worth $26,000. Financial Management Professionals Inc. purchased a new position in Kinross Gold during the fourth quarter valued at $26,000. Virtus Advisers LLC bought a new stake in shares of Kinross Gold during the 3rd quarter valued at $28,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of Kinross Gold during the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.