Kinross Gold (TSE:K) Stock Price Target Cut by National Bank Financial

Kinross Gold (TSE:K) (NYSE:KGC) had its price objective reduced by analysts at National Bank Financial from C$45.00 to C$42.50 in a research report issued on Tuesday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price target would suggest a potential upside of 27.21% from the company’s previous close.

K has been the subject of a number of other research reports. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating and raised their price objective for the stock from C$41.00 to C$45.00 in a research report on Friday, July 31st. 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. BMO Capital Markets lowered their price objective on Kinross Gold from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. Finally, Desjardins cut their target price on Kinross Gold from C$58.00 to C$53.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Kinross Gold has a consensus rating of “Buy” and a consensus target price of C$48.58.

Kinross Gold Stock Performance

Shares of TSE K traded up C$0.01 during mid-day trading on Tuesday, hitting C$33.41. The company had a trading volume of 1,757,674 shares, compared to its average volume of 3,725,718. The company has a debt-to-equity ratio of 7.65, a current ratio of 2.89 and a quick ratio of 1.11. The business’s 50-day simple moving average is C$38.48 and its 200-day simple moving average is C$38.52. Kinross Gold has a 12 month low of C$30.93 and a 12 month high of C$53.57. The firm has a market cap of C$39.90 billion, a P/E ratio of 12.70, a PEG ratio of -0.60 and a beta of 1.75.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share 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 for the quarter. As a group, analysts predict that Kinross Gold will post 1.01 earnings per share for the current fiscal year.

Insider Activity at Kinross Gold

In other Kinross Gold news, 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 transaction of C$1,223,100.00. Following the completion of the transaction, the insider owned 27,374 shares in the company, valued at C$1,116,037.98. This trade represents a 52.29% decrease in their ownership of the stock. Also, insider Daniel Fombonne sold 2,003 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 16,155 shares of the company’s stock, valued at approximately C$621,644.40. This represents a 11.03% decrease in their position. Insiders have sold a total of 33,338 shares of company stock valued at $1,351,546 over the last quarter. 0.26% of the stock is owned by company insiders.

Kinross Gold Company Profile

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).