Kinross Gold Co. (TSE:K) Stock Has Average Target Price of C$49.42

Kinross Gold Co. (TSE:K) (NYSE:KGC) has been assigned an average recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$49.42.

A number of equities analysts have recently issued reports on the stock. National Bank Financial dropped their price objective on shares of Kinross Gold from C$50.00 to C$47.50 and set an “outperform” rating on the stock in a research note on Friday, July 31st. BMO Capital Markets reduced their price objective on shares of Kinross Gold from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$41.00 to C$45.00 in a report on Friday, July 31st. Desjardins lowered their target price on Kinross Gold from C$58.00 to C$53.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Finally, Jefferies Financial Group dropped their target price on Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th.

Kinross Gold Price Performance

Shares of K stock opened at C$33.32 on Friday. Kinross Gold has a twelve month low of C$30.93 and a twelve month high of C$53.57. The company has a current ratio of 2.89, a quick ratio of 1.11 and a debt-to-equity ratio of 7.65. The stock has a fifty day simple moving average of C$38.80 and a two-hundred day simple moving average of C$38.72. The stock has a market capitalization of C$39.79 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of -0.60 and a beta of 1.75.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. The firm had revenue of C$3.18 billion for the quarter. Kinross Gold had a return on equity of 35.91% and a net margin of 37.56%. On average, analysts predict that Kinross Gold will post 1.01 EPS for the current fiscal year.

Insider Transactions at Kinross Gold

In related news, insider Daniel Fombonne sold 2,003 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total transaction of C$77,075.44. Following the completion of the sale, the insider directly owned 16,155 shares in the company, valued at C$621,644.40. This represents a 11.03% decrease in their position. Also, insider William D. Dunford sold 30,000 shares of the firm’s 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 in the company, valued at approximately C$1,116,037.98. The trade was a 52.29% decrease in their position. In the last three months, insiders sold 33,338 shares of company stock valued at $1,351,546. Corporate insiders own 0.26% of the company’s stock.

About Kinross Gold

Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).