Kinross Gold’s (KGC) Multibagger Potential In Tact Despite Downward Target Price Revision

Kinross Gold Corporation (NYSE:KGC) is one of the 8 Hidden Multibagger Stocks to Buy Now. On June 30, UBS analyst Daniel Major lowered the firm’s price target on Kinross Gold Corporation (NYSE:KGC) from $38 to $30 and maintained a Buy rating. The firm’s downward-adjusted price target suggests an additional 27% upside from here on. This upside is equal to the lowest Wall Street analysts’ upside estimate, based on 21 analysts covering the stock. Moreover, the median Wall Street price target of $41.88 implies a further 78% upside from current levels.

In addition to UBS, RBC Capital shared similar sentiments on June 3. The firm cut its price target on the stock from  $45 to $40 while keeping a Buy rating. However, its revised price target is still attractive to investors as compared to that of UBS.

On a bullish note, Bank of America Securities shared a positive stance towards the stock earlier on May 30. The firm raised its price target on Kinross Gold Corporation (NYSE:KGC) from $43.50 to $46.00 while reaffirming a Buy rating on the shares. The firm’s revised price target reflects an impressive 95% upside from here on. This upside is slightly higher than the median Wall Street analysts’ upside.

Based in Canada, Kinross Gold Corporation (NYSE:KGC) is involved in the production, exploration, acquisition, and development of gold properties. Its operations are divided into the following business segments: Tasiast, Paracatu, La Coipa, Fort Knox, Round Mountain, Bald Mountain, and Corporate & Other.

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