Kinross Gold assumed with a Hold at Jefferies

Jefferies assumed coverage of Kinross Gold with a Hold rating with a price target of $5, down from $5.50. The analyst took over some names while starting coverage on the North American gold mining and streaming sector with a positive view. Despite high real rates and falling inflation, gold has been supported near all-time highs by foreign central bank buying and a slowing global economy could serve as the next tailwind, while equities have detached from the near-record gold prices and sit at “discounted levels,” says the analyst, who thinks miner margin expansion can soon resume.