Kinross Gold Co. (TSE:K) Receives C$49.29 Average PT from Analysts

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have been assigned an average rating of “Buy” from the eight brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$47.36.

Several analysts recently issued reports on K shares. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating and raised their price target for the stock from C$41.00 to C$45.00 in a report on Friday. BMO Capital Markets upped their price objective on Kinross Gold from C$45.00 to C$55.00 in a research note on Wednesday, April 22nd. National Bank Financial dropped their target price on Kinross Gold from C$50.00 to C$47.50 and set an “outperform” rating on the stock in a research report on Friday. Jefferies Financial Group cut their target price on Kinross Gold from C$41.00 to C$38.00 in a research note on Monday, July 6th. Finally, Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th.

Kinross Gold Stock Performance

Shares of TSE K opened at C$32.32 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.89 and a debt-to-equity ratio of 7.65. The firm’s 50-day moving average price is C$35.53 and its two-hundred day moving average price is C$41.38. Kinross Gold has a 52-week low of C$21.87 and a 52-week high of C$53.57. The stock has a market capitalization of C$38.59 billion, a P/E ratio of 13.75, a P/E/G ratio of -0.60 and a beta of 1.49.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. The company had revenue of C$3.18 billion during the quarter. Kinross Gold had a return on equity of 35.91% and a net margin of 37.56%. As a group, sell-side analysts forecast that Kinross Gold will post 1.0071259 earnings per share for the current year.

Insider Buying and Selling

In other Kinross Gold news, insider Claude J.S. Schimper sold 15,000 shares of the business’s stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$40.33, for a total transaction of C$604,950.00. Following the completion of the transaction, the insider directly owned 49,060 shares of the company’s stock, valued at C$1,978,589.80. The trade was a 23.42% decrease in their position. Also, insider Lucas Crosby sold 791 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of C$39.12, for a total transaction of C$30,943.92. Following the completion of the transaction, the insider owned 33,988 shares of the company’s stock, valued at approximately C$1,329,610.56. This trade represents a 2.27% decrease in their position. Insiders have sold a total of 38,582 shares of company stock valued at $1,572,318 in the last quarter. Company insiders own 0.26% of the company’s stock.

About Kinross Gold

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.