In a report released today, Tanya Jakusconek from Scotiabank maintained a Buy rating on Kinross Gold (KGC – Research Report), with a price target of $7.00. The company’s shares closed last Friday at $5.07.
Jakusconek covers the Basic Materials sector, focusing on stocks such as Compania de Minas Buenaventura SAA, IAMGOLD, and Barrick Gold. According to TipRanks, Jakusconek has an average return of -9.8% and a 33.33% success rate on recommended stocks.
In addition to Scotiabank, Kinross Gold also received a Buy from Stifel Nicolaus’s Ingrid Rico in a report issued on February 15. However, on February 14, Bank of America Securities maintained a Sell rating on Kinross Gold (NYSE: KGC).
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Based on Kinross Gold’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.12 billion and a net profit of $65.4 million. In comparison, last year the company earned a revenue of $1.08 billion and had a GAAP net loss of $512.2 million
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KGC in relation to earlier this year.
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Kinross Gold (KGC) Company Description:
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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