Kinross Gold (TSE:K) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$40.32 and traded as high as C$45.43. Kinross Gold shares last traded at C$43.49, with a volume of 3,004,500 shares.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on K. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. National Bank Financial decreased their price target on Kinross Gold from C$50.00 to C$47.50 and set an “outperform” rating for the company in a research note on Friday, July 31st. Jefferies Financial Group reduced their price objective on shares of Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. Finally, ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and raised their target price for the company from C$41.00 to C$45.00 in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$47.36.

Kinross Gold Trading Down 3.5%

The company has a market capitalization of C$51.59 billion, a price-to-earnings ratio of 16.54, a PEG ratio of -0.60 and a beta of 1.48. The firm has a 50-day moving average price of C$36.18 and a 200-day moving average price of C$40.32. The company has a current ratio of 2.89, a quick ratio of 1.11 and a debt-to-equity ratio of 7.65.

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

Insider Activity

In related news, insider William D. Dunford sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of C$40.77, for a total transaction of C$1,223,100.00. Following the completion of the sale, the insider directly owned 27,374 shares in the company, valued at approximately C$1,116,037.98. This trade represents a 52.29% decrease in their ownership of the stock. Also, insider Daniel Fombonne sold 2,003 shares of Kinross Gold stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total transaction of C$77,075.44. Following the completion of the transaction, the insider owned 16,155 shares in the company, valued at approximately C$621,644.40. This trade represents a 11.03% decrease in their position. In the last quarter, insiders sold 33,338 shares of company stock worth $1,351,546. Corporate 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.