Kinross Gold (TSE:K) Price Target Cut to C$40.00 by Analysts at National Bank Financial

Key Points

• National Bank Financial cut Kinross Gold’s price target to C$40.00 from C$42.50 while maintaining an “outperform” rating, implying roughly 45.3% upside from the reported C$27.53 share price.
• Analyst sentiment remains positive overall: Kinross has a consensus “Buy” rating and an average target price of C$48.17, despite several brokerages recently lowering their targets.
• Shares fell C$2.63 to C$27.53 in Friday trading, near the company’s 52-week low of C$27.50. Kinross recently reported quarterly EPS of C$0.71 on revenue of C$2.53 billion.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC had its price objective decreased by National Bank Financial from C$42.50 to C$40.00 in a research report issued to clients and investors on Friday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price objective would suggest a potential upside of 45.30% from the stock's current price.

K has been the topic of a number of other reports. Desjardins lowered their price target on shares of Kinross Gold from C$58.00 to C$53.00 and set a "buy" rating on the stock in a report on Thursday, September 24th. ATB Cormark Capital Markets raised shares of Kinross Gold from a "hold" rating to a "moderate buy" rating and lifted their price objective for the company from C$41.00 to C$45.00 in a report on Friday, July 31st. Jefferies Financial Group decreased their price objective on shares of Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. Finally, BMO Capital Markets lowered their target price on shares of Kinross Gold from C$49.00 to C$48.00 and set an "outperform" rating on the stock in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of C$48.17.

Kinross Gold Stock Performance

Shares of K traded down C$2.63 during mid-day trading on Friday, reaching C$27.53. The company had a trading volume of 3,482,273 shares, compared to its average volume of 3,730,124. Kinross Gold has a 52-week low of C$27.50 and a 52-week high of C$53.57. The company has a quick ratio of 1.11, a current ratio of 2.87 and a debt-to-equity ratio of 7.56. The stock has a market capitalization of C$32.87 billion, a P/E ratio of 10.47, a PEG ratio of -0.60 and a beta of 1.75. The stock has a 50 day moving average of C$37.36 and a two-hundred day moving average of C$40.08.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last released its quarterly earnings data on Wednesday, October 28th. The company reported C$0.71 EPS for the quarter. The business had revenue of C$2.53 billion for the quarter. Kinross Gold had a return on equity of 34.13% and a net margin of 37.64%. On average, analysts expect that Kinross Gold will post 1.01 earnings per share for the current year.

Insider Activity

In other news, insider Daniel Fombonne sold 2,003 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were 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 owned 16,155 shares in the company, valued at C$621,644.40. This trade represents a 11.03% decrease in their position. Also, insider William D. Dunford sold 30,000 shares of Kinross Gold stock in a transaction that occurred on 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 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. Insiders sold a total of 33,338 shares of company stock valued at $1,351,546 in the last 90 days. Company insiders own 0.26% of the company's stock.

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.

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