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UPDATE: Canaccord Genuity Upgrades Kinross Gold to Buy on Strong Q3 Results

Related KGC
Benzinga's Top Downgrades
UBS Downgrades Kinross Gold to Neutral

Canaccord Genuity raised its rating on Kinross Gold (NYSE: KGC) from Hold to Buy with a reiterated $13 price target.

Canaccord Genuity said, "We are upgrading Kinross shares to a BUY from Hold following the release of Q3/12 results. Our BUY rating is based on relative valuation and implied return to target. The shares have declined approximately 15% since the beginning of October (underperforming peers by approximately 8.6%) and trade at only 0.73x 5%/spot P/NAV versus the sr/int average of 0.93x."

Kinross Gold closed at $9.39 on Wednesday.

Latest Ratings for KGC

DateFirmActionFromTo
Dec 2014UBSDowngradesBuyNeutral
Dec 2014CitigroupMaintainsNeutral
Nov 2014CIBCUpgradesSector PerformSector Outperform

View More Analyst Ratings for KGC
View the Latest Analyst Ratings

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

 

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