Deutsche Bank Reiterates $4.00 Price Target for Kinross Gold (NYSE:KGC)

Deutsche Bank set a $4.00 price objective on Kinross Gold (NYSE:KGC) (TSE:K) in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has a hold rating on the mining company’s stock.

KGC has been the subject of several other research reports. JPMorgan Chase & Co. raised China Life Insurance from a neutral rating to an overweight rating in a research note on Thursday, May 30th. They noted that the move was a valuation call. ValuEngine raised Xylem from a hold rating to a buy rating in a research note on Friday, June 21st. Finally, Zacks Investment Research lowered Guaranty Federal Bancshares from a hold rating to a sell rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $3.77.

Shares of KGC opened at $4.05 on Thursday. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 57.86 and a beta of 0.02. The stock has a 50 day moving average price of $3.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 3.02. Kinross Gold has a 1 year low of $2.38 and a 1 year high of $4.13.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, May 7th. The mining company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.06. The business had revenue of $786.20 million during the quarter, compared to analyst estimates of $800.70 million. Kinross Gold had a positive return on equity of 1.88% and a negative net margin of 2.10%. Kinross Gold’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, equities research analysts anticipate that Kinross Gold will post 0.15 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc purchased a new stake in shares of Kinross Gold during the first quarter valued at approximately $34,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Kinross Gold during the first quarter valued at approximately $33,000. PNC Financial Services Group Inc. raised its holdings in shares of Kinross Gold by 65.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,679 shares of the mining company’s stock valued at $45,000 after acquiring an additional 5,390 shares in the last quarter. Maven Securities LTD bought a new position in shares of Kinross Gold during the fourth quarter valued at approximately $44,000. Finally, Sigma Planning Corp bought a new position in shares of Kinross Gold during the first quarter valued at approximately $52,000. 58.93% of the stock is owned by hedge funds and other institutional investors.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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Analyst Recommendations for Kinross Gold (NYSE:KGC)

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