Shares of Kinross Gold Corp. shot up by 1.18% to $4.30 on Monday afternoon as gold prices increased.
The yellow metal gained amid a weaker U.S. dollar and uncertainty over oil prices, which spurred some safe-haven investing, the Wall Street Journal reports. But, gold trimmed some of its earlier morning gains.
For June delivery, gold is up by 0.1% to $1,235.80 per ounce on the COMEX.
Additionally, Barclays raised its price target on Kinross Gold stock to $5 from $4 and maintained its “equal weight” rating.
The firm expects Kinross’ earnings to grow quarter-over-quarter. Results will also be impacted by asset divestures and acquisitions, Barclays said.
The Toronto-based gold mining company will report its 2016 first quarter results on May 10 before the market open.
Separately, TheStreet Ratings Team has a “Hold” rating with a score of C- on the stock.
The primary factors that have impacted the rating are mixed.
The company’s strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income.
However, the team also finds that the company’s return on equity has been disappointing.
Recently, TheStreet Ratings objectively rated this stock according to its “risk-adjusted” total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer’s view or that of this articles’s author.
Source: TheStreet
