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

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

Separately, 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.63.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $11.07 on Tuesday. Kinross Gold has a one year low of $4.75 and a one year high of $12.28. The stock has a market capitalization of $13.60 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 0.68 and a beta of 1.24. The company has a 50-day simple moving average of $10.61 and a 200-day simple moving average of $9.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01.

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 the consensus estimate of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. On average, analysts predict that Kinross Gold will post 0.81 EPS for the current year.

Hedge Funds Weigh In On Kinross Gold

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