uploads///Analyst reco

Inside the Analyst Ratings for Kinross after Its 2Q16 Results


Nov. 20 2020, Updated 4:01 p.m. ET

Analyst recommendations

As of July 28, 2016, Kinross Gold (KGC) was trading at $5.03 per share. About 32% of Wall Street analysts covering the stock have “buy” recommendations for Kinross. About 59% of analysts have issued “hold” recommendations, and 9% have issued “sell” recommendations, according to Bloomberg.

Over the years, we’ve seen Kinross’s share price move in tandem with analyst recommendations. The consensus price target now stands at $6.2, implying a potential downside of 19% based on its current market price.

Article continues below advertisement

Gold miners’ ratings

Among senior gold miners (GDX), Agnico-Eagle Mines (AEM) is the analyst favorite, with the highest percentage of “buy” recommendations (50%). Newmont Mining (NEM) has the lowest percentage of “sell” recommendations (6%), and the majority of analysts issued “hold” recommendations for both Newmont and Goldcorp (GG).

Recent rating changes

Kinross’s stock has also seen some rating changes. Deutsche Bank (DB), for example, upgraded Kinross to “hold” on July 7, with a target price of $4.5 for the stock. TD Securities, on the other hand, reiterated its “buy” rating for Kinross, with a target price of $7.5.

Jefferies upgraded Kinross from “underperform” to “hold.” The firm stated that Kinross’s “valuation based on our new gold price forecasts is inexpensive and more than offsets the associated risks (this was not the case assuming $1,200/oz gold).

Overall, however, while many analysts commented on the stock, there have not been any changes in ratings or recommendations following Kinross’s 2Q16 results.


More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.