According to The Fly, a Wall Street analyst has provided a rating update for the Materials sector company on November 7, while remaining neutral on the stock. Kinross Gold (K) received a Hold on November 7 from BMO Capital’s analyst Andrew Kaip.
According to TipRanks.com, Kaip is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.3% and a 24.6% success rate. Kaip covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Osisko Gold Royalties Ltd, and Franco Nev Corp.
Currently, the analyst consensus on Kinross Gold is a Hold with an average price target of C$5.13, which is a 45.7% upside from current levels. In a report released yesterday, Credit Suisse also maintained a Hold rating on the stock.
Based on Kinross Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$136 million. In comparison, last year the company had a net profit of C$75.33 million.
Kinross Gold Corp. is an exploration company. It engages in the production, acquisition, exploration and development of gold bearing properties in Canada, United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana and Mauritania. The products are gold and silver produced in the form of dore.
The company’s shares closed on Thursday at C$3.52, close to its 52-week low of C$3.29.