J.P. Morgan Reiterates OW Rating On KGC

J.P. Morgan is reiterating its OW rating on shares of Kinross Gold Corporation (NYSE: KGC).

“We participated in Kinross's first analyst visit to its new Tasiast mine in Mauritania yesterday,” J.P. Morgan writes. “We saw a veritable forest of drill rigs there as the company races to prove up reserves for the engineers to turn it into a larger mine. There will be a new feasibility study out in late summer.

“We remain convinced of the prospectivity of the 70km long property, and we feel new converts to this view were made. The Mauritanian mine and economy ministers met with us yesterday and expressed their support for Kinross's Tasiast project.”

Kinross Gold closed Tuesday at $15.34.