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Inside the Analyst Ratings for Kinross after Its 2Q16 Results

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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.

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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.

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