BUZZ-Kinross Gold Corp: UBS raises to "buy"

Fri May 29, 2015 8:48am EDT
 
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** Canadian miner's U.S.-listed shares up 3 pct at $2.37 premarket

** UBS raises rating to "buy" from "neutral", saying decline in share price presents opportunity for upside

** "Assuming relatively stable commodity prices, we believe that appreciation in KGC's shares may be possible given the company's solid operating performance in recent quarters," analysts write in note

** Up to Thursday's close, stock had fallen more than 38 pct in past 12 months

** Of 24 brokerages covering stock, 10 have "buy" or higher rating, 11 have "hold" and 3 have "sell" or lower rating; median price target is $3.48