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

Key Points

• National Bank Financial lowered Kinross Gold’s price target from C$45.00 to C$42.50 while maintaining an “outperform” rating, implying 27.21% upside from the reported C$33.41 share price.
• Analyst sentiment remains positive overall: Kinross has a consensus “Buy” rating and an average price target of C$48.58, despite several firms recently reducing their targets.
• Kinross reported C$1.01 in quarterly EPS and C$3.18 billion in revenue, while insiders sold 33,338 shares worth approximately C$1.35 million over the past three months.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC had its target price reduced by stock analysts at National Bank Financial from C$45.00 to C$42.50 in a research note issued to investors on Tuesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price objective would suggest a potential upside of 27.21% from the stock's current price.

A number of other research firms also recently weighed in on K. ATB Cormark Capital Markets raised shares of Kinross Gold from a "hold" rating to a "moderate buy" rating and upped their price target for the stock from C$41.00 to C$45.00 in a research note on Friday, July 31st. BMO Capital Markets dropped their target price 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. Desjardins cut their price target 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. Finally, Jefferies Financial Group cut their price target on Kinross Gold from C$41.00 to C$38.00 in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$48.58.

Kinross Gold Trading Up 0.0%

Shares of K traded up C$0.01 during midday trading on Tuesday, hitting C$33.41. The stock had a trading volume of 1,757,674 shares, compared to its average volume of 3,725,718. The business has a 50-day simple moving average of C$38.48 and a two-hundred day simple moving average of C$38.52. The firm has a market cap of C$39.90 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of -0.60 and a beta of 1.75. The company has a current ratio of 2.89, a quick ratio of 1.11 and a debt-to-equity ratio of 7.65. Kinross Gold has a fifty-two week low of C$30.93 and a fifty-two week high of C$53.57.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share for the quarter. The business 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%. As a group, equities analysts forecast that Kinross Gold will post 1.01 EPS for the current year.

Insider Transactions at Kinross Gold

In other news, insider Laurence Davies sold 1,335 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of C$38.48, for a total value of C$51,370.80. Following the sale, the insider owned 11,855 shares in the company, valued at approximately C$456,180.40. This trade represents a 10.12% decrease in their ownership of the stock. Also, insider William D. Dunford sold 30,000 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of C$40.77, for a total transaction of C$1,223,100.00. Following the transaction, the insider directly owned 27,374 shares in the company, valued at C$1,116,037.98. This trade represents a 52.29% decrease in their position. Insiders sold a total of 33,338 shares of company stock worth $1,351,546 over the last three months. 0.26% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.