Desjardins Cuts Kinross Gold (TSE:K) Price Target to C$53.00

Kinross Gold (TSE:K) (NYSE:KGC) had its target price lowered by Desjardins from C$58.00 to C$53.00 in a research report report published on Thursday morning,BayStreet reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently weighed in on K. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$41.00 to C$45.00 in a research report on Friday, July 31st. National Bank Financial lowered their price target on shares of Kinross Gold from C$50.00 to C$47.50 and set an “outperform” rating for the company in a research report on Friday, July 31st. Finally, Jefferies Financial Group dropped their price objective on shares of Kinross Gold from C$41.00 to C$38.00 in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and a consensus target price of C$47.64.

Kinross Gold Trading Up 2.8%

TSE K opened at C$35.46 on Thursday. The firm has a market capitalization of C$42.34 billion, a PE ratio of 13.48, a P/E/G ratio of -0.60 and a beta of 1.68. The stock’s 50 day moving average is C$38.60 and its 200 day moving average is C$39.35. Kinross Gold has a twelve month low of C$30.93 and a twelve month high of C$53.57. The company has a quick ratio of 1.11, a current ratio of 2.89 and a debt-to-equity ratio of 7.65.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. The business 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%. Research analysts forecast that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Laurence Davies sold 1,335 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total value of C$51,370.80. Following the sale, the insider directly owned 11,855 shares of the company’s stock, valued at approximately C$456,180.40. This represents a 10.12% decrease in their ownership of the stock. Also, insider Daniel Fombonne sold 2,003 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of C$38.48, for a total value of C$77,075.44. Following the transaction, the insider owned 16,155 shares of the company’s stock, valued at C$621,644.40. The trade was a 11.03% decrease in their ownership of the stock. Over the last three months, insiders have sold 33,338 shares of company stock valued at $1,351,546. 0.26% of the stock is currently owned by corporate insiders.

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.