Kinross Gold (TSE:K) Reaches New 1-Year Low – What’s Next?

Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week low during trading on Thursday. The company traded as low as C$29.66 and last traded at C$30.37, with a volume of 528,316 shares. The stock had previously closed at C$32.18.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on K shares. Jefferies Financial Group dropped their price target on shares of Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. BMO Capital Markets decreased their price objective on shares of Kinross Gold from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and raised their price objective for the company from C$41.00 to C$45.00 in a research report on Friday, July 31st. National Bank Financial lowered their target price on shares of Kinross Gold from C$45.00 to C$42.50 and set an “outperform” rating on the stock in a research note on Tuesday, October 20th. Finally, Desjardins dropped their target price on shares of Kinross Gold from C$58.00 to C$53.00 and set a “buy” rating for the company in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$48.58.

Kinross Gold Trading Down 5.7%

The company has a debt-to-equity ratio of 7.65, a current ratio of 2.89 and a quick ratio of 1.11. The stock has a market cap of C$36.23 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of -0.60 and a beta of 1.75. The stock’s 50-day moving average is C$37.59 and its two-hundred day moving average is C$40.14.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Wednesday, October 28th. The company reported C$0.71 EPS for the quarter. Kinross Gold had a net margin of 37.56% and a return on equity of 35.91%. The business had revenue of C$2.53 billion during the quarter. Equities research analysts anticipate that Kinross Gold Co. will post 1.01 EPS for the current year.

Insider Activity at Kinross Gold

In other Kinross Gold news, insider Daniel Fombonne sold 2,003 shares of the stock in a transaction on Wednesday, August 12th. The shares were 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 C$621,644.40. This trade represents a 11.03% decrease in their ownership of the stock. Also, insider Laurence Davies sold 1,335 shares of Kinross Gold stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total transaction of C$51,370.80. Following the completion of the transaction, the insider directly owned 11,855 shares of the company’s stock, valued at C$456,180.40. The trade was a 10.12% decrease in their ownership of the stock. Insiders have sold a total of 33,338 shares of company stock valued at $1,351,546 over the last 90 days. 0.26% of the stock is owned by corporate insiders.

About Kinross Gold

Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).