Kinross Gold Co. (TSE:K) Given Consensus Recommendation of “Buy” by Brokerages

Kinross Gold Co. (TSE:K) (NYSE:KGC) has earned an average recommendation of “Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and four have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$29.83.

K has been the subject of several analyst reports. National Bankshares upped their price objective on Kinross Gold from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Canaccord Genuity Group increased their price target on Kinross Gold from C$29.50 to C$37.00 in a report on Thursday. UBS Group raised shares of Kinross Gold to a “strong-buy” rating in a research note on Monday, August 4th. Finally, Raymond James Financial upgraded shares of Kinross Gold to a “hold” rating in a research note on Monday, June 30th.

Kinross Gold Price Performance

Shares of TSE:K opened at C$34.89 on Monday. Kinross Gold has a one year low of C$12.59 and a one year high of C$35.98. The stock has a market capitalization of C$42.52 billion, a price-to-earnings ratio of 28.14, a PEG ratio of -0.60 and a beta of 0.67. The company has a 50-day simple moving average of C$28.88 and a 200-day simple moving average of C$23.14. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. Kinross Gold’s payout ratio is 9.68%.

Insider Activity at Kinross Gold

In other news, insider Claude J.S. Schimper sold 2,131 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of C$27.86, for a total value of C$59,369.66. Following the completion of the sale, the insider directly owned 35,258 shares of the company’s stock, valued at C$982,287.88. This trade represents a 5.70% decrease in their position. 0.26% of the stock is owned by corporate insiders.

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.