KGC - Kinross Gold raised at Credit Suisse after yesterday's drop

bodnarchuk/iStock via Getty Images Kinross Gold ([[KGC]] +1.1%) recouped yesterday's losses after Credit Suisse comes out in defense of the miner, upgrading shares to Outperform from Neutral with an $8 price target after being "overly penalized" because of "transient issues" at the Tasiast mine. Credit Suisse initially cut its PT to $7.50 from $8.50, but today analyst Fahad Tariq says although Kinross has faced two major operational hurdles this year - the Round Mountain pit wall instability and the Tasiast fire - "we think the impact is mainly limited to 2021, with 2022-23 still looking like strong production years." Tariq thinks shares could even see upside from a potentially earlier restart of the Tasiast mill vs. the current year-end timeline and the possible acceleration of stock buybacks in the near-term. Kinross management may be playing it conservatively with its year-end timeline, and the mill could restart in 3-4 months, Tariq

For further details see:

Kinross Gold raised at Credit Suisse after yesterday's drop