Insider Selling: Kinross Gold (TSE:K) Insider Sells 30,000 Shares of Stock

Key Points

• Kinross Gold insider William Dunford sold 30,000 shares at an average price of C$40.77, generating proceeds of approximately C$1.22 million and reducing his ownership by 52.29% to 27,374 shares.
• Kinross shares rose 4.2% to C$43.03, while the company reported quarterly revenue of C$3.18 billion, earnings of C$1.01 per share, a 37.56% net margin, and a 35.91% return on equity.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of C$47.36, despite differing target revisions among research firms.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC insider William Dunford sold 30,000 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of C$40.77, for a total value of C$1,223,100.00. Following the completion of the transaction, 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 ownership of the stock.

Kinross Gold Stock Up 4.2%

Shares of TSE K traded up C$1.73 during trading hours on Thursday, hitting C$43.03. The stock had a trading volume of 2,872,273 shares, compared to its average volume of 3,747,576. The firm's 50-day moving average price is C$35.13 and its two-hundred day moving average price is C$40.25. Kinross Gold Co. has a 52 week low of C$26.45 and a 52 week high of C$53.57. The company has a market capitalization of C$51.04 billion, a P/E ratio of 16.36, a P/E/G ratio of -0.60 and a beta of 1.48. 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 - Get Free Report) NYSE: KGC last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share for the quarter. Kinross Gold had a net margin of 37.56% and a return on equity of 35.91%. The firm had revenue of C$3.18 billion for the quarter. Analysts anticipate that Kinross Gold Co. will post 1.0071259 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on K. Freedom Capital raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. National Bank Financial lowered their price target on Kinross Gold from C$50.00 to C$47.50 and set an "outperform" rating on the stock in a research report on Friday, July 31st. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating and boosted their price objective for the stock from C$41.00 to C$45.00 in a research report on Friday, July 31st. BMO Capital Markets raised their target price on Kinross Gold from C$45.00 to C$55.00 in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group cut their price target on Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$47.36.

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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