Deutsche Bank Maintains Hold Rating and $18 PT on Kinross Gold

A report from Deutsche Bank reiterates its Hold rating and $18 price target on Kinross Gold

. The report states, “Kinross reported 3Q11 adj. EPS of $0.24 slightly ahead of DBe of $0.22 and Bloomberg consensus of $0.23, as lower depreciation/ exploration expenses offset low gold price and h-t-e unit cash costs. Reported EPS of $0.19 was reduced by a $61m (5c/share post-tax impact) loss largelyon FX. Kinross maintained its overall 2011 guidance for production and costs, while it closed out all its gold and silver forward contracts beyond 2Q12, a positive." KGC closed yesterday at $14.36.