Kinross Gold (TSE:K) Stock Price Up 5.7% – Time to Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price traded up 5.7% during mid-day trading on Wednesday . The company traded as high as C$18.25 and last traded at C$18.00. 2,285,843 shares changed hands during trading, a decline of 37% from the average session volume of 3,621,403 shares. The stock had previously closed at C$17.03.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on K shares. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. National Bankshares boosted their price objective on Kinross Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 2nd. Finally, National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$17.30.

Kinross Gold Trading Up 7.9 %

The firm’s fifty day moving average is C$16.71 and its two-hundred day moving average is C$14.93. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. The firm has a market capitalization of C$15.97 billion, a PE ratio of 21.63, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.65%. Kinross Gold’s dividend payout ratio is presently 18.84%.

Insider Activity at Kinross Gold

In related news, Senior Officer Claude J.S. Schimper sold 10,000 shares of Kinross Gold stock in a transaction on Monday, March 3rd. The stock was sold at an average price of C$15.63, for a total transaction of C$156,300.00. Also, Senior Officer Geoffrey Peters Gold sold 99,347 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of C$15.22, for a total value of C$1,512,061.34. In the last ninety days, insiders sold 349,670 shares of company stock worth $5,366,186. Corporate insiders own 0.26% of the company’s stock.

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.