Kinross Gold Co. (TSE:K) Receives C$47.36 Average Target Price from Brokerages

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have received an average recommendation of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$47.36.

K has been the subject of several recent research reports. National Bank Financial decreased their target price on shares of Kinross Gold from C$50.00 to C$47.50 and set an “outperform” rating for the company in a research report on Friday, July 31st. Jefferies Financial Group dropped their price target on shares of Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. Finally, ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and raised their price target for the company from C$41.00 to C$45.00 in a research report on Friday, July 31st.

Insider Transactions at Kinross Gold

In related news, insider Daniel Fombonne sold 2,003 shares of Kinross Gold stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total transaction of C$77,075.44. Following the transaction, the insider owned 16,155 shares of the company’s stock, valued at C$621,644.40. The trade was a 11.03% decrease in their ownership of the stock. Also, insider William D. Dunford sold 30,000 shares of Kinross Gold stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of C$40.77, for a total value of C$1,223,100.00. Following the transaction, the insider directly owned 27,374 shares in the company, valued at approximately C$1,116,037.98. The trade was a 52.29% decrease in their position. Insiders sold a total of 33,338 shares of company stock valued at $1,351,546 over the last ninety days. 0.26% of the stock is currently owned by insiders.

Kinross Gold Stock Performance

TSE K opened at C$38.90 on Monday. The company has a market cap of C$46.45 billion, a P/E ratio of 14.79, a PEG ratio of -0.60 and a beta of 1.68. The company has a fifty day simple moving average of C$37.90 and a 200 day simple moving average of C$39.73. The company has a current ratio of 2.89, a quick ratio of 1.11 and a debt-to-equity ratio of 7.65. Kinross Gold has a 12-month low of C$30.31 and a 12-month high of C$53.57.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share for the quarter. Kinross Gold had a net margin of 37.56% and a return on equity of 35.91%. The firm had revenue of C$3.18 billion for the quarter. Sell-side analysts predict that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

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.