How Are Analysts Viewing Kinross Gold after 3Q16?



Analyst recommendations

As of November 3, 2016, Kinross Gold (KGC) was trading at $4.20 per share. About 29.0% of Wall Street analysts covering KGC stock have given it a “buy” recommendation. About 63.0% have issued a “hold” recommendation, and 8.0% have given it a “sell” recommendation, according to Bloomberg.

Over the years, we’ve seen Kinross Gold’s share price move in tandem with analyst recommendations. The consensus price target now stands at $5.60, implying a potential upside of 33.0% based on its current market price.

Article continues below advertisement

Gold miners’ ratings

Among senior gold miners (SGDM), analysts are most bullish on Goldcorp (GG), with 61.0% of them recommending a “buy.” Barrick Gold (ABX) has 47.0% “buy” ratings, 40.0% “hold” ratings, and 13.0% “sell” ratings.

For Newmont Mining (NEM), analyst ratings are split equally between “buy” and “hold.” Its target price has also seen an impressive change with an upward revision of 100.0% to $46.

Recent rating changes

After Kinross Gold posted its 3Q16 results, TD Securities commented on the stock by maintaining its “buy” rating. But it reduced its target price from $7 to $6.50.

Canaccord Genuity also reiterated its “buy” rating for Kinross Gold stock but reduced its target price from $8 to $7.75. Deutsche Bank (DB) upgraded Kinross to a “hold” on July 7, 2016, with a target price of $4.50.

In July, 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).”

While many analysts commented on the stock, there haven’t been any changes in ratings or recommendations following Kinross Gold’s 3Q16 results.


More From Market Realist