Jefferies Financial Group Has Lowered Expectations for Kinross Gold (TSE:K) Stock Price

Kinross Gold (TSE:K) (NYSE:KGC) had its price objective decreased by Jefferies Financial Group from C$41.00 to C$38.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective would indicate a potential upside of 8.66% from the company’s previous close.

A number of other brokerages also recently commented on K. Royal Bank Of Canada upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, March 12th. BMO Capital Markets increased their price target on Kinross Gold from C$45.00 to C$55.00 in a report on Wednesday, April 22nd. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating and set a C$56.00 price objective for the company in a report on Friday, May 1st. Finally, National Bank Financial dropped their price target on Kinross Gold from C$60.00 to C$57.50 and set an “outperform” rating for the company in a research report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold presently has an average rating of “Buy” and an average price target of C$50.36.

Kinross Gold Stock Down 3.0%

Shares of K stock traded down C$1.07 during trading hours on Monday, hitting C$34.97. 1,045,163 shares of the company’s stock traded hands, compared to its average volume of 3,862,641. The stock has a market cap of C$41.76 billion, a price-to-earnings ratio of 14.88, a PEG ratio of -0.60 and a beta of 1.49. Kinross Gold has a 12-month low of C$20.61 and a 12-month high of C$53.57. The company has a quick ratio of 1.11, a current ratio of 2.84 and a debt-to-equity ratio of 8.12. The stock’s fifty day simple moving average is C$38.79 and its two-hundred day simple moving average is C$42.34.

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

Insider Buying and Selling

In related news, insider Claude J.S. Schimper sold 15,000 shares of the stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$40.33, for a total value of C$604,950.00. Following the completion of the sale, the insider owned 49,060 shares in the company, valued at approximately C$1,978,589.80. This trade represents a 23.42% decrease in their ownership of the stock. Also, insider Lucas Crosby sold 791 shares of Kinross Gold stock in a transaction on Friday, May 15th. The shares were sold at an average price of C$39.12, for a total transaction of C$30,943.92. Following the completion of the sale, the insider owned 33,988 shares of the company’s stock, valued at C$1,329,610.56. This represents a 2.27% decrease in their position. Over the last quarter, insiders have sold 38,582 shares of company stock worth $1,572,318. Company 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.