Kinross Gold Corporation (USA) (KGC) Shares Are Trading Up Following an Analyst Upgrade and Gold Price Rise


Shares of Kinross Gold Corporation are trading up considerable today following an upgrade by analysts at RBC Capital Markets. The upgrade to shares from an ‘underperform’ rating to a ‘sector perform’ sparking a rally which may have also been helped by the rise in gold prices. Gold is trading up 0.74% at the time of us publoshing this article.

Dispite the company’s weak revenue as of late, shares ofthey have recently been outperforming competition within the industry. The stock increased 10.29% or $0.18 on November 24, hitting $1.93. About 11.13 million shares traded hands or 14.74% up from the average. KGC has declined 23.91% since April 22, 2015 and is downtrending. It has underperformed by 22.90% the S&P500.

Out of 5 analysts covering Kinross Gold Corporation (NYSE:KGC), 1 rate it “Buy”, 0 “Sell”, while 4 “Hold”. This means 20% are positive. $2.55 is the highest target while $1.90 is the lowest. The $2.31 average target is 19.69% above today’s ($1.93) stock price. Kinross Gold Corporation was the topic in 11 analyst reports since July 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets upgraded the stock on November 24 to “Sector Perform” rating. RBC Capital Markets downgraded it to “Underperform” rating and $2.25 target price in an August 24 report. Robert W. Baird downgraded the shares of KGC in a report on August 24 to “Sector Perform” rating.

Kinross Gold Corporation is a senior gold mining company. The company has a market cap of $2.22 billion. The Firm 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. It currently has negative earnings. The Company’s divisions include Fort Knox, Round Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.