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UPDATE: Canaccord Genuity Downgrades Kinross Gold Corporation to Hold

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Canaccord Genuity lowered its rating on Kinross Gold Corporation (NYSE: KGC) from Buy to Hold and reduced its price target from $10.50 to $8.75.

Canaccord Genuity noted, "We are revising our rating on Kinross shares to HOLD from Buy following the release of Q2/12 results which included a potentially smaller expansion at Tasiast. Our HOLD rating is based on relative valuation, implied return to target, uncertainty surrounding the scope, processing methodology, and resource growth potential at Tasiast and Lobo-Marte, and uncertain fiscal terms and development timeline of the FDN project."

Kinross Gold Corporation closed at $3.16 on Wednesday.

Latest Ratings for KGC

DateFirmActionFromTo
Aug 2014Mackie ResearchDowngradesHoldBuy
Jul 2014UBSMaintainsNeutral
May 2014CitigroupMaintainsHold

View More Analyst Ratings for KGC
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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