RBC Capital Reaffirms Their Buy Rating on Kinross Gold (KGC)

In a report released on August 3, Josh Wolfson from RBC Capital maintained a Buy rating on Kinross Gold, with a price target of $39.00. The company’s shares closed yesterday at C$32.32.

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According to TipRanks, Wolfson is a 5-star analyst with an average return of 19.0% and a 60.21% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Triple Flag Precious Metals, Agnico Eagle, and Royal Gold.

Kinross Gold has an analyst consensus of Strong Buy, with a price target consensus of $39.47, implying a 22.12% upside from current levels. In a report released on August 3, Bank of America Securities also maintained a Buy rating on the stock with a $33.00 price target.

Based on Kinross Gold’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$2.18 billion and a net profit of C$822.41 million. In comparison, last year the company earned a revenue of C$1.73 billion and had a net profit of C$530.7 million

Based on the recent corporate insider activity of 105 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.