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

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have been given a consensus recommendation of “Buy” by the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and four have given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$23.00.

A number of research analysts have recently commented on K shares. UBS Group raised Kinross Gold to a “strong-buy” rating in a report on Monday, August 4th. National Bankshares increased their target price on shares of Kinross Gold from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, Raymond James Financial upgraded shares of Kinross Gold to a “hold” rating in a research report on Monday, June 30th.

Insider Activity at Kinross Gold

In other news, insider Claude J.S. Schimper sold 2,131 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of C$27.86, for a total transaction of C$59,369.66. Following the completion of the sale, the insider directly owned 35,258 shares of the company’s stock, valued at C$982,287.88. This represents a 5.70% decrease in their ownership of the stock. 0.26% of the stock is currently owned by corporate insiders.

Kinross Gold Price Performance

Shares of K opened at C$31.80 on Thursday. The company has a market cap of C$38.76 billion, a P/E ratio of 25.65, a PEG ratio of -0.60 and a beta of 0.67. The stock has a fifty day moving average price of C$24.95 and a 200 day moving average price of C$21.15. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. Kinross Gold has a 12 month low of C$12.11 and a 12 month high of C$31.87.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Kinross Gold’s dividend payout ratio (DPR) is 9.68%.

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.