Kinross Gold (TSE:K) Raised to Moderate Buy at Royal Bank Of Canada

Kinross Gold (TSE:K) (NYSE:KGC) was upgraded by equities research analysts at Royal Bank Of Canada from a “hold” rating to a “moderate buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also recently commented on K. Desjardins set a C$44.00 target price on shares of Kinross Gold and gave the company a “buy” rating in a research report on Friday, November 28th. National Bank Financial lifted their price target on shares of Kinross Gold from C$52.50 to C$60.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Finally, Stifel Nicolaus boosted their price target on shares of Kinross Gold from C$45.00 to C$65.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and a consensus target price of C$51.50.

Kinross Gold Price Performance

TSE:K opened at C$44.33 on Thursday. Kinross Gold has a 52 week low of C$16.03 and a 52 week high of C$53.57. The stock’s fifty day moving average is C$46.34 and its two-hundred day moving average is C$38.81. The company has a market capitalization of C$53.19 billion, a P/E ratio of 22.73, a P/E/G ratio of -0.60 and a beta of 1.11. The company has a quick ratio of 1.11, a current ratio of 2.35 and a debt-to-equity ratio of 9.08.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings results on Wednesday, February 18th. The company reported C$0.92 earnings per share for the quarter. The business had revenue of C$2.68 billion during the quarter. Kinross Gold had a return on equity of 30.66% and a net margin of 33.95%. Equities analysts expect that Kinross Gold will post 1.0071259 EPS for the current year.

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.