NEW YORK (TheStreet) -- Shares of Kinross Gold Corp. (KGC) are gaining by 2.17% to $2.35 in late morning trading on Friday, after analysts at UBS raised their rating on the gold producer to "buy" from "neutral."
The firm increased its rating on Kinross Gold based on the 35% decline in its shares since the middle of January, theflyonthewall.com reports, adding that UBS is seeing an upside from the company's "solid" operating performance in recent quarters.
UBS maintained its $3 price target on Kinross Gold stock.
Based in Toronto, Ontario, Kinross Gold is engaged in gold mining and related activities, including the exploration and acquisition of gold bearing properties. The company's gold production and exploration activities are carried out in Canada, the U.S., Russia, Brazil, and other South American countries.
Gold for August delivery is up slightly by 0.03% to $1,189.10 per ounce on the COMEX this morning.
Separately, TheStreet Ratings team rates KINROSS GOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate KINROSS GOLD CORP (KGC) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and generally disappointing historical performance in the stock itself."