Brokerages Set Kinross Gold Co. (TSE:K) Target Price at C$49.29

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have received a consensus rating of “Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$49.29.

Several equities analysts have recently weighed in on K shares. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. BMO Capital Markets upped their price objective on shares of Kinross Gold from C$45.00 to C$55.00 in a research note on Wednesday, April 22nd. Jefferies Financial Group cut their price objective on shares of Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. National Bank Financial decreased their target price on shares of Kinross Gold from C$57.50 to C$50.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, ATB Cormark Capital Markets upgraded 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.

Kinross Gold Trading Down 1.7%

Shares of K stock opened at C$33.21 on Friday. Kinross Gold has a fifty-two week low of C$21.27 and a fifty-two week high of C$53.57. The company has a debt-to-equity ratio of 8.12, a quick ratio of 1.11 and a current ratio of 2.84. The stock’s fifty day moving average is C$35.93 and its two-hundred day moving average is C$41.59. The firm has a market capitalization of C$39.66 billion, a P/E ratio of 14.13, a PEG ratio of -0.60 and a beta of 1.49.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Wednesday, April 29th. The company reported C$0.99 earnings per share (EPS) for the quarter. The business had revenue of C$3.35 billion during the quarter. Kinross Gold had a net margin of 36.03% and a return on equity of 34.63%. Research analysts expect that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

Insider Activity at Kinross Gold

In related news, insider Claude J.S. Schimper sold 15,000 shares of the stock in a transaction that occurred on Monday, May 25th. The stock was 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 owned 49,060 shares of the company’s stock, valued at approximately C$1,978,589.80. This trade represents a 23.42% decrease in their ownership of the stock. Also, insider Lucas Crosby sold 791 shares of Kinross Gold stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$39.12, for a total value of C$30,943.92. Following the transaction, the insider owned 33,988 shares in the company, valued at approximately C$1,329,610.56. The trade was a 2.27% decrease in their position. Over the last 90 days, insiders sold 38,582 shares of company stock valued at $1,572,318. 0.26% of the stock is currently owned by insiders.

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.