Markets

Analyst Actions: Macquarie Downgrades Kinross Gold to Neutral; Shares Nearing 52-Wk Lows

Macquarie Research has downgraded Kinross Gold Corp. (K.TO, KGC) to neutral from outperform, even as the stock is near to breaching a 52-week low of $7.15 hit May 9.

The stock is currently down 1.3% at $8.05 and traded as low as $7.82 today.

The median price target on the stock is US$12, according to Thomson First Call. Of 17 analysts who cover the stock, nine rate it as a strong buy, one as a buy, and seven as a hold, according to Zacks Investment Research.

The company has been challenged by the recent slide in gold prices and cost inflation. It will report its second quarter on Aug. 8.

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

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

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