Kinross Gold (TSE:K) Price Target Cut to C$38.00 by Analysts at Jefferies Financial Group

Kinross Gold (TSE:K) (NYSE:KGC) had its target price dropped by stock analysts at 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 target price would indicate a potential upside of 8.66% from the company’s previous close.

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

Kinross Gold Price Performance

Shares of TSE K traded down C$1.07 during trading hours on Monday, reaching C$34.97. 1,045,163 shares of the stock traded hands, compared to its average volume of 3,862,641. The company has a market capitalization of C$41.76 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of -0.60 and a beta of 1.49. Kinross Gold has a 52-week low of C$20.61 and a 52-week high of C$53.57. The company’s 50-day simple moving average is C$38.79 and its two-hundred day simple moving average is C$42.34. The company has a quick ratio of 1.11, a current ratio of 2.84 and a debt-to-equity ratio of 8.12.

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

Insider Activity

In other news, insider Claude J.S. Schimper sold 15,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 49,060 shares in the company, valued at approximately C$1,978,589.80. The trade was a 23.42% decrease in their position. Also, insider Stephen Kerrigan sold 791 shares of the stock in a transaction dated 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 owned 84,936 shares of the company’s stock, valued at approximately C$3,322,696.32. This trade represents a 0.92% decrease in their ownership of the stock. In the last 90 days, insiders have sold 38,582 shares of company stock valued at $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.