Kinross Gold Co. (TSE:K) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Kinross Gold has a consensus “Buy” rating from seven brokerages, with five buy ratings, one strong buy, and one hold. The average 12-month price target is C$47.36, compared with a recent price of C$40.39.
• Recent analyst actions were mixed: National Bank and Jefferies lowered their price targets, while ATB Cormark upgraded the stock to “moderate buy” and Freedom Capital raised its rating to “strong buy.”
• Insiders sold 33,338 shares worth approximately $1.35 million over the last quarter, while Kinross reported C$1.01 in quarterly EPS and C$3.18 billion in revenue.

Shares of Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC have earned an average recommendation of "Buy" from the seven research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$47.36.

A number of research firms recently issued reports on K. National Bank Financial decreased their price objective on shares of Kinross Gold from C$50.00 to C$47.50 and set an "outperform" rating for the company in a report on Friday, July 31st. Jefferies Financial Group dropped their target price on shares of Kinross Gold from C$41.00 to C$38.00 in a research note on Monday, July 6th. ATB Cormark Capital Markets raised shares of Kinross Gold from a "hold" rating to a "moderate buy" rating and increased their target price for the company from C$41.00 to C$45.00 in a research report on Friday, July 31st. Finally, Freedom Capital upgraded shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th.

Insider Activity at Kinross Gold

In other Kinross Gold news, insider Daniel Fombonne sold 2,003 shares of the firm's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total value of C$77,075.44. Following the completion of the sale, the insider directly owned 16,155 shares of the company's stock, valued at C$621,644.40. This trade represents a 11.03% 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 shares were sold at an average price of C$40.77, for a total value of C$1,223,100.00. Following the completion of the sale, the insider owned 27,374 shares in the company, valued at approximately C$1,116,037.98. The trade was a 52.29% decrease in their ownership of the stock. Over the last quarter, insiders have sold 33,338 shares of company stock worth $1,351,546. Insiders own 0.26% of the company's stock.

Kinross Gold Price Performance

Shares of TSE:K opened at C$40.39 on Monday. The company has a market capitalization of C$48.23 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of -0.60 and a beta of 1.68. 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 has a fifty day moving average price of C$37.59 and a two-hundred day moving average price of C$39.95. Kinross Gold has a 1 year low of C$30.31 and a 1 year high of C$53.57.

Kinross Gold (TSE:K - Get Free Report) 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 return on equity of 35.91% and a net margin of 37.56%. Analysts forecast that Kinross Gold will post 1.0071259 earnings per share for the current year.

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.

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