In a report released yesterday, Matt Murphy from Barclays maintained a Hold rating on Kinross Gold (KGC), with a price target of $6.00. The company’s shares closed last Thursday at $6.14, close to its 52-week high of $6.64.
According to TipRanks.com, Murphy is a 3-star analyst with an average return of 2.3% and a 59.0% success rate. Murphy covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, First Quantum Minerals, and Freeport-McMoRan.
Currently, the analyst consensus on Kinross Gold is a Moderate Buy with an average price target of $5.92, a -2.6% downside from current levels. In a report released yesterday, RBC Capital also maintained a Hold rating on the stock with a $5.50 price target.
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Based on Kinross Gold’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $996 million and net profit of $522 million. In comparison, last year the company earned revenue of $787 million and had a GAAP net loss of $27.7 million.
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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.
