Kinross Gold Corp (NYSE:KGC) was upgraded by equities research analysts at CIBC from an “underperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $6.50 price target on the stock, up from their previous price target of $5.50. CIBC’s target price points to a potential upside of 27.45% from the stock’s previous close.
Shares of Kinross Gold Corp (NYSE:KGC) traded down 1.76% during mid-day trading on Tuesday, hitting $5.01. Kinross Gold Corp has a one year low of $4.53 and a one year high of $11.20. The stock’s 50-day moving average is currently $5.. The company’s market cap is $5.720 billion.
Kinross Gold Corp (NYSE:KGC) last announced its earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.03. The company had revenue of $968.00 million for the quarter, compared to the consensus estimate of $929.64 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts expect that Kinross Gold Corp will post $0.27 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets downgraded shares of Kinross Gold Corp from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, July 15th. They now have a $6.00 price target on the stock, down previously from $8.50. Separately, analysts at Jefferies Group downgraded shares of Kinross Gold Corp from a “hold” rating to an “underperform” rating in a research note to investors on Tuesday, July 2nd. Finally, analysts at UBS AG downgraded shares of Kinross Gold Corp from a “buy” rating to a “neutral” rating in a research note to investors on Friday, June 21st.
Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Kinross Gold Corp has an average rating of “Hold” and a consensus price target of $8.20.
Kinross Gold Corporation (NYSE:KGC) is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties.