Shares of Kinross Gold (KGC) are surging 5.06% in pre-market trading on Monday, buoyed by positive analyst coverage. The gold mining company is attracting attention from major financial institutions, signaling potential upside for investors.
UBS has initiated coverage of Kinross Gold with a Buy rating and a price target of $20. The firm expressed a constructive outlook on gold, anticipating that prices will remain elevated. This bullish stance suggests significant growth potential for Kinross, given its current trading price.
Adding to the positive sentiment, Bank of America Securities reiterated its Buy rating on Kinross Gold, setting a price target of $18.70. This reaffirmation of confidence from a major financial institution further supports the stock's pre-market rally. The convergence of these bullish ratings from prominent analysts is likely driving investor enthusiasm and contributing to the stock's notable gain.
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