Analysts Upgrade: Kinross Gold Corporation (USA) (KGC)

Kinross Gold Corporation (USA) (NYSE:KGC) received a stock rating upgrade from Raymond James on Mar-31-16. In a note to investors, the firm issued an Outperform rating and also issued the target price on the stock of $5. The analysts previously had a Market Perform rating on the stock.

The 52-week price range is $ 1.31 – 3.45 and the company has a market capitalization of $ 4.24B. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. 1 analyst has rated the stock with a sell rating, 9 has assigned a hold rating, 1 says it’s a buy, and 2 have assigned a strong buy rating to the company.

Kinross Gold Corporation (USA) (KGC) on March 30, 2016 filed an updated technical report for its Tasiast mine in Mauritania. The technical report incorporates updates with respect to the current Tasiast operation and provides comprehensive details from studies on a two-phased Tasiast expansion and a resulting updated mineral resource and mineral reserve estimate. The two-phased expansion scenario contemplates operations based on an ultimate processing capacity of 30,000 tonnes per day consisting of a new SAG mill, new gyratory crusher and three leach tanks, a new larger ball mill to replace two current ball mills, adding incremental power generation and additional leaching and thickening capacity, upgrading the water supply infrastructure and expanding the mine fleet.

The technical report has been prepared pursuant to Canadian Securities Administrator’s National Instrument 43-101, and may be found at www.kinross.com or under the Company’s profile at www.sedar.com.

On March 30, 2016, Kinross concurrently filed its Annual Information Form (“AIF”) in Canada under the Company’s profile on SEDAR at www.sedar.com, and its annual report on Form 40-F (“40-F”) in the U.S. under the Company’s profile on EDGAR at www.sec.gov. The 40-F is largely comprised of the Company’s 2015 annual audited financial statements, management discussion and analysis and the AIF, and is also available on SEDAR under the Kinross profile.

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and production of gold properties. The company’s gold production and exploration activities are carried out principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It also produces and sells silver. As of December 31, 2015, its proven and probable mineral reserves included 34.0 million ounces of gold, 41.0 million ounces of silver, and 1.4 billion pounds of copper. The company was founded in 1972 and is headquartered in Toronto, Canada.

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