Brokerages Set Kinross Gold Co. (TSE:K) Target Price at C$17.30

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have been assigned an average rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$17.30.

Several research analysts recently weighed in on K shares. National Bankshares upped their price target on shares of Kinross Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 2nd. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th.

Insider Buying and Selling at Kinross Gold

In other news, Director Jonathan Paul Rollinson sold 205,318 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$15.22, for a total transaction of C$3,124,939.96. Also, Senior Officer Claude J.S. Schimper sold 5,000 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of C$17.97, for a total value of C$89,850.00. In the last quarter, insiders sold 349,670 shares of company stock worth $5,366,186. Insiders own 0.26% of the company’s stock.

Kinross Gold Stock Performance

TSE:K opened at C$19.93 on Monday. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61. The stock has a market capitalization of C$17.33 billion, a PE ratio of 23.46, a P/E/G ratio of -0.60 and a beta of 1.24. Kinross Gold has a fifty-two week low of C$8.58 and a fifty-two week high of C$20.25. The company has a fifty day moving average of C$16.90 and a two-hundred day moving average of C$15.07.

Kinross Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.60%. Kinross Gold’s dividend payout ratio is presently 18.84%.

Kinross Gold Company Profile

Kinross Gold is a Canada-based senior gold producer, producing roughly 2.4 million gold equivalent ounces in 2020. The company had 30 million ounces of proven and probable gold reserves and 59 million ounces of silver reserves at the end of 2020. It operates mines and focuses its greenfield and brownfield exploration in the Americas, West Africa, and Russia.