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Kinross Gold Gains 3% on Uptick in Gold

Posted
4/25/2013 2:11:00 PM
By: MT Newswires
Referenced Stocks:KGC

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.