Kinross Gold (TSE:K) Rating Increased to Outperform at ATB Cormark Capital Markets

ATB Cormark Capital Markets upgraded shares of Kinross Gold (TSE:K) (NYSE:KGC) from a sector perform rating to an outperform rating in a research report released on Friday morning, MarketBeat.com reports. The brokerage currently has C$56.00 target price on the stock.

Several other research analysts also recently commented on K. Royal Bank Of Canada raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, March 12th. BMO Capital Markets upped their target price on Kinross Gold from C$45.00 to C$55.00 in a research note on Wednesday, April 22nd. National Bank Financial cut their target price on Kinross Gold from C$60.00 to C$57.50 and set an “outperform” rating for the company in a research note on Friday, April 17th. Finally, Stifel Nicolaus upped their target price on 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. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$52.42.

Kinross Gold Stock Down 2.3%

Shares of Kinross Gold stock traded down C$0.93 during trading on Friday, hitting C$40.22. 2,857,687 shares of the stock traded hands, compared to its average volume of 4,088,962. The stock has a market cap of C$48.17 billion, a P/E ratio of 20.63, a PEG ratio of -0.60 and a beta of 1.48. The company has a debt-to-equity ratio of 8.12, a quick ratio of 1.11 and a current ratio of 2.84. Kinross Gold has a twelve month low of C$18.53 and a twelve month high of C$53.57. The company has a fifty day moving average price of C$44.09 and a two-hundred day moving average price of C$41.47.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings results on Wednesday, April 29th. The company reported C$0.99 earnings per share (EPS) for the quarter. Kinross Gold had a return on equity of 34.63% and a net margin of 36.03%.The business had revenue of C$3.35 billion during the quarter. Equities research analysts predict that Kinross Gold will post 1.0071259 EPS for the current fiscal year.

Insider Activity

In other news, insider Afjal Hashim sold 16,980 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of C$37.20, for a total transaction of C$631,656.00. Following the transaction, the insider owned 28,306 shares of the company’s stock, valued at C$1,052,983.20. This represents a 37.50% decrease in their ownership of the stock. 0.26% of the stock is owned by company insiders.

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.