In a report issued on October 15, Carey MacRury from Canaccord Genuity maintained a Buy rating on Kinross Gold (KGC), with a price target of C$16.00. The company’s shares closed last Monday at $8.51.
According to TipRanks.com, MacRury is a top 100 analyst with an average return of 25.7% and a 74.8% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Golden Star Resources, and Osisko Gold Royalties.
Currently, the analyst consensus on Kinross Gold is a Moderate Buy with an average price target of $11.44, representing a 34.0% upside. In a report issued on October 5, TD Securities also maintained a Buy rating on the stock.
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Based on Kinross Gold’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.01 billion and net profit of $196 million. In comparison, last year the company earned revenue of $838 million and had a net profit of $71.5 million.
Based on the recent corporate insider activity of 113 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KGC in relation to earlier this year.
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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 operates through the following business segments: Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Crixas, La Coipa, Maricunga, Tasiast and Chirano. The company was founded by Robert MacKay Buchan on May 31, 1993 and is headquartered in Toronto, Canada.
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