Kinross Gold Gains 3% on Uptick in Gold

By Staff,

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Shares of gold miner Kinross Gold Corp ( KGC ) are up 3% on the back of a $42.00 gain in the price of gold.

Due to the bloodbath in the gold market, Deutsche Bank recently downgraded KGC to Hold from Buy and lowered the price target to $6.00 from $9.00.

Today's share move helps erase some of the losses recorded in KGC. Since the beginning of April, KGC was down as much as 37% in sympathy with a 17% drop in the price of gold.

KGC last traded at $5.83, within the 52-week range of $4.97 to $11.19.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: KGC

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