Kinross Gold (TSE:K) Rating Increased to Moderate Buy at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Kinross Gold (TSE:K) (NYSE:KGC) from a hold rating to a moderate buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus lifted their target price on shares of Kinross Gold from C$45.00 to C$65.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Desjardins set a C$44.00 price target on Kinross Gold and gave the stock a “buy” rating in a report on Friday, November 28th. Finally, National Bank Financial lifted their price objective on Kinross Gold from C$52.50 to C$60.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Kinross Gold currently has an average rating of “Buy” and an average price target of C$51.50.

Kinross Gold Stock Performance

TSE:K opened at C$44.33 on Thursday. The company has a debt-to-equity ratio of 9.08, a quick ratio of 1.11 and a current ratio of 2.35. Kinross Gold has a fifty-two week low of C$16.03 and a fifty-two week high of C$53.57. The company has a 50 day simple moving average of C$46.34 and a two-hundred day simple moving average of C$38.81. The company has a market capitalization of C$53.19 billion, a PE ratio of 22.73, a P/E/G ratio of -0.60 and a beta of 1.11.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Wednesday, February 18th. The company reported C$0.92 earnings per share (EPS) for the quarter. Kinross Gold had a net margin of 33.95% and a return on equity of 30.66%. The firm had revenue of C$2.68 billion for the quarter. Research analysts anticipate that Kinross Gold will post 1.0071259 earnings per share for the current 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.