Kinross Gold Co. (TSE:K) Receives C$52.42 Consensus Target Price from Analysts

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have received an average recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$50.36.

Several research analysts have weighed in on K shares. National Bank Financial dropped their target price on Kinross Gold from C$60.00 to C$57.50 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Royal Bank Of Canada raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, March 12th. Jefferies Financial Group dropped their price objective on Kinross Gold from C$41.00 to C$38.00 in a report on Monday. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and set a C$56.00 target price for the company in a research note on Friday, May 1st.

Kinross Gold Price Performance

TSE K opened at C$33.92 on Wednesday. The company has a debt-to-equity ratio of 8.12, a current ratio of 2.84 and a quick ratio of 1.11. The firm has a market capitalization of C$40.50 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of -0.60 and a beta of 1.49. The company has a 50 day simple moving average of C$38.40 and a 200-day simple moving average of C$42.29. Kinross Gold has a 52-week low of C$20.61 and a 52-week high of C$53.57.

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 business had revenue of C$3.35 billion for the quarter. Equities research analysts predict that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

Insider Activity at Kinross Gold

In related news, insider Lucas Crosby sold 791 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of C$39.12, for a total value of C$30,943.92. Following the completion of the sale, the insider directly owned 33,988 shares in the company, valued at approximately C$1,329,610.56. This represents a 2.27% decrease in their ownership of the stock. Also, insider Claude J.S. Schimper sold 15,000 shares of the stock in a transaction on Monday, May 25th. The stock was sold at an average price of C$40.33, for a total transaction of C$604,950.00. Following the transaction, the insider directly owned 49,060 shares in the company, valued at C$1,978,589.80. The trade was a 23.42% decrease in their ownership of the stock. In the last 90 days, insiders sold 38,582 shares of company stock valued at $1,572,318. 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.