After Canaccord Genuity and Barclays gave Kinross Gold (NYSE: KGC) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Josh Wolfson maintained a Buy rating on Kinross Gold yesterday and set a price target of $12.00. The company’s shares closed last Tuesday at $7.83.
According to TipRanks.com, Wolfson is a 1-star analyst with an average return of -0.1% and a 54.7% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Kirkland Lake Gold.
Currently, the analyst consensus on Kinross Gold is a Moderate Buy with an average price target of $11.86, implying a 46.6% upside from current levels. In a report issued on October 25, National Bank also maintained a Buy rating on the stock with a C$17.00 price target.
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Based on Kinross Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.13 billion and net profit of $241 million. In comparison, last year the company earned revenue of $877 million and had a net profit of $60.9 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.
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