Kinross Gold Co. (TSE:K) Receives Average Recommendation of “Buy” from Analysts

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is C$47.36.

A number of brokerages have issued reports on K. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and increased their price objective for the stock from C$41.00 to C$45.00 in a research note on Friday, July 31st. National Bank Financial decreased their price target on Kinross Gold from C$50.00 to C$47.50 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Jefferies Financial Group lowered their price target on Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. Finally, Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th.

Kinross Gold Stock Performance

TSE K opened at C$45.61 on Thursday. The firm has a 50-day moving average price of C$35.63 and a two-hundred day moving average price of C$40.27. Kinross Gold has a 12-month low of C$27.14 and a 12-month high of C$53.57. The company has a market capitalization of C$54.10 billion, a P/E ratio of 17.34, a P/E/G ratio of -0.60 and a beta of 1.48. 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 EPS for the quarter. The firm had revenue of C$3.18 billion for the quarter. Kinross Gold had a return on equity of 35.91% and a net margin of 37.56%. Analysts anticipate that Kinross Gold will post 1.0071259 earnings per share for the current year.

Insider Activity

In related news, insider Daniel Fombonne sold 2,003 shares of Kinross Gold stock in a transaction that occurred 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 sale, the insider directly owned 16,155 shares of the company’s stock, valued at approximately C$621,644.40. The trade was a 11.03% decrease in their position. Also, insider William D. Dunford sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of C$40.77, for a total transaction of C$1,223,100.00. Following the transaction, the insider owned 27,374 shares of the company’s stock, valued at approximately C$1,116,037.98. This represents a 52.29% decrease in their ownership of the stock. In the last three months, insiders have sold 33,338 shares of company stock worth $1,351,546. Corporate insiders own 0.26% of the company’s stock.

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.