Brokerages Set Kinross Gold Co. (TSE:K) PT at C$47.36

Kinross Gold Co. (TSE:K) (NYSE:KGC) has been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is C$47.36.

A number of brokerages have recently issued reports on K. National Bank Financial lowered their price objective on 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. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating and upped their target price for the company from C$41.00 to C$45.00 in a report on Friday, July 31st. Finally, Jefferies Financial Group decreased their price objective on Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th.

Kinross Gold Stock Performance

TSE K opened at C$39.25 on Monday. The company has a quick ratio of 1.11, a current ratio of 2.89 and a debt-to-equity ratio of 7.65. The company has a market capitalization of C$46.87 billion, a P/E ratio of 14.92, a P/E/G ratio of -0.60 and a beta of 1.68. Kinross Gold has a 12-month low of C$30.93 and a 12-month high of C$53.57. The firm has a 50-day moving average price of C$38.11 and a two-hundred day moving average price of C$39.65.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. Kinross Gold had a return on equity of 35.91% and a net margin of 37.56%.The business had revenue of C$3.18 billion during the quarter. Analysts anticipate that Kinross Gold will post 1.0071259 earnings per share for the current year.

Insider Buying and Selling

In related news, insider William D. Dunford sold 30,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 27,374 shares of the company’s stock, valued at C$1,116,037.98. This represents a 52.29% decrease in their position. Also, insider Laurence Davies sold 1,335 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of C$38.48, for a total transaction of C$51,370.80. Following the completion of the sale, the insider directly owned 11,855 shares of the company’s stock, valued at approximately C$456,180.40. This trade represents a 10.12% decrease in their ownership of the stock. Insiders sold 33,338 shares of company stock valued at $1,351,546 over the last 90 days. 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.