Laurence Davies Sells 1,335 Shares of Kinross Gold (TSE:K) Stock

Kinross Gold Co. (TSE:K) (NYSE:KGC) insider Laurence Davies sold 1,335 shares of Kinross Gold stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total transaction of C$51,370.80. Following the transaction, the insider directly owned 11,855 shares in the company, valued at C$456,180.40. This trade represents a 10.12% decrease in their ownership of the stock.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at C$37.69 on Wednesday. Kinross Gold Co. has a 52-week low of C$25.85 and a 52-week high of C$53.57. The stock has a market capitalization of C$44.71 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of -0.60 and a beta of 1.48. The company has a fifty day moving average of C$34.96 and a 200-day moving average of C$40.31. The company has a debt-to-equity ratio of 7.65, a quick ratio of 1.11 and a current ratio of 2.89.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. The company had revenue of C$3.18 billion for the quarter. Kinross Gold had a net margin of 37.56% and a return on equity of 35.91%. Equities research analysts expect that Kinross Gold Co. will post 1.0071259 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on K. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating and boosted their target price for the company from C$41.00 to C$45.00 in a research note on Friday, July 31st. Jefferies Financial Group reduced their price target on Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. BMO Capital Markets lifted their price target on Kinross Gold from C$45.00 to C$55.00 in a research note on Wednesday, April 22nd. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, National Bank Financial dropped 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 note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$47.36.

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.