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Fly News Breaks for December 5, 2016
KGC
Dec 5, 2016 | 05:58 EDT
Citi analyst Alexander Hacking downgraded Kinross Gold to Sell saying the company's higher cost profile should put pressure on margins and free cash flow amid a lower gold price environment. The downgrade follows Citi's global commodity team lowering their gold and silver price forecasts based on a strong U.S. dollar outlook and the back-up in bond yields. Hacking cut his price target for Kinross shares to $3.25 from $4.
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