Kinross Gold Co. (TSE:K) Given Average Rating of "Buy" by Brokerages

Key Points

• Kinross Gold Co. has received an average consensus rating of "Buy" from seven brokerages, with a price objective of C$26.25 over the next year.
• The company recently announced a quarterly dividend of $0.03 per share, resulting in an annualized yield of 0.4% and reflecting a payout ratio of 9.68%.
• Kinross Gold's shares have shown significant growth, currently trading at C$33.58, up 1.9%, with a market cap of C$40.93 billion.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC has been given a consensus recommendation of "Buy" by the seven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$26.25.

A number of research analysts recently commented on K shares. National Bankshares upped their price target on shares of Kinross Gold from C$27.00 to C$28.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating in a research note on Monday, June 30th. Finally, UBS Group upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Monday, August 4th.

Insider Activity

In other Kinross Gold news, insider Claude J.S. Schimper sold 2,131 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$27.86, for a total transaction of C$59,369.66. Following the transaction, the insider owned 35,258 shares in the company, valued at C$982,287.88. This represents a 5.70% decrease in their position. 0.26% of the stock is currently owned by insiders.

Kinross Gold Stock Up 1.9%

Shares of K opened at C$33.58 on Monday. Kinross Gold has a 52 week low of C$12.56 and a 52 week high of C$34.43. The firm has a market cap of C$40.93 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of -0.60 and a beta of 0.67. The firm's 50-day simple moving average is C$27.60 and its 200 day simple moving average is C$22.61. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Kinross Gold's payout ratio is presently 9.68%.

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.

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