Kinross Gold wins hedge fund's favour with buyback plan
BNN Bloomberg
Kinross Gold Corp. announced plans to ramp up its share repurchases subsequent to talks with a renowned activist investor and other shareholders.
Mike Parkin, an analyst at National Bank of Canada Financial Markets who has an outperform (the equivalent of a buy) recommendation on Kinross, stated in a report to clients he thinks the buyback strategy is a good use of capital in light of the discount on Kinross shares against peers.
Parkin ranks Kinross as his top pick among the senior gold producers. He has a price target of $8.25 per share.
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