BMO Capital Markets Issues Positive Forecast for Kinross Gold (TSE:K) Stock Price

Key Points

• BMO Capital Markets raised its price target on Kinross Gold from C$45.00 to C$55.00, implying roughly a 23.21% upside from the previous close.
• Analyst consensus is a Moderate Buy with an average target of C$51.70; notable moves include RBC upgrading to "moderate buy" and Stifel raising its target to C$65.00.
• Shares traded at C$44.64 (up 1.9% midday); the company reported quarterly EPS of C$0.92 on C$2.68 billion revenue, with a market cap of C$53.46 billion and a P/E of 22.89.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC had its price objective upped by investment analysts at BMO Capital Markets from C$45.00 to C$55.00 in a report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets' price target would suggest a potential upside of 23.21% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Royal Bank Of Canada raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a research report on Thursday, March 12th. National Bank Financial dropped their price objective on Kinross Gold from C$60.00 to C$57.50 and set an "outperform" rating on the stock in a research report on Friday, April 17th. Finally, Stifel Nicolaus raised their price objective on Kinross Gold from C$45.00 to C$65.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of C$51.70.

Kinross Gold Stock Up 1.9%

Shares of K traded up C$0.82 during midday trading on Wednesday, reaching C$44.64. 1,454,890 shares of the stock were exchanged, compared to its average volume of 4,171,660. Kinross Gold has a 52 week low of C$18.53 and a 52 week high of C$53.57. The company has a current ratio of 2.35, a quick ratio of 1.11 and a debt-to-equity ratio of 9.08. The company's 50 day moving average is C$44.55 and its two-hundred day moving average is C$41.16. The company has a market capitalization of C$53.46 billion, a P/E ratio of 22.89, a PEG ratio of -0.60 and a beta of 1.48.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last posted its quarterly earnings results on Wednesday, February 18th. The company reported C$0.92 earnings per share (EPS) for the quarter. Kinross Gold had a return on equity of 30.66% and a net margin of 33.95%.The business had revenue of C$2.68 billion for the quarter. On average, sell-side analysts anticipate that Kinross Gold will post 1.0071259 earnings per share for the current year.

Insiders Place Their Bets

In other Kinross Gold news, insider Afjal Hashim sold 16,980 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of C$37.20, for a total value of C$631,656.00. Following the completion of the sale, the insider owned 28,306 shares of the company's stock, valued at approximately C$1,052,983.20. This trade represents a 37.50% decrease in their ownership of the stock. Corporate insiders own 0.26% of the company's stock.

Kinross Gold Company Profile

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.

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