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

Key Points

• Kinross Gold has an average analyst rating of "Buy" from eight research firms, with five buy ratings and two strong buy ratings. The average 12-month price target is C$49.29.
• Several analysts recently adjusted their views, including BMO Capital Markets raising its target to C$55.00 and ATB Cormark upgrading the stock to a moderate buy. Others, such as National Bank Financial and Jefferies, lowered their price targets.
• Insiders have been selling shares, including two transactions by Lucas Crosby and Stephen Kerrigan, while the stock recently traded at C$33.66 versus a 52-week high of C$53.57. Kinross also reported C$0.99 EPS and C$3.35 billion in quarterly revenue.

Shares of Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC have earned an average rating of "Buy" from the eight research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$49.29.

Several research analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of Kinross Gold from C$45.00 to C$55.00 in a report on Wednesday, April 22nd. National Bank Financial cut their target price on shares of Kinross Gold from C$57.50 to C$50.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 14th. ATB Cormark Capital Markets raised shares of Kinross Gold from a "hold" rating to a "moderate buy" rating and set a C$56.00 price target on the stock in a research report on Friday, May 1st. Jefferies Financial Group decreased their price target on Kinross Gold from C$41.00 to C$38.00 in a research note on Monday, July 6th. Finally, Freedom Capital raised Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th.

Insiders Place Their Bets

In other news, insider Lucas Crosby sold 791 shares of Kinross Gold stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$39.12, for a total value of C$30,943.92. Following the completion of the transaction, the insider owned 33,988 shares in the company, valued at approximately C$1,329,610.56. This trade represents a 2.27% decrease in their position. Also, insider Stephen Kerrigan sold 791 shares of Kinross Gold stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$39.12, for a total value of C$30,943.92. Following the completion of the transaction, the insider owned 84,936 shares of the company's stock, valued at approximately C$3,322,696.32. The trade was a 0.92% decrease in their position. Insiders have sold a total of 38,582 shares of company stock valued at $1,572,318 in the last quarter. Insiders own 0.26% of the company's stock.

Kinross Gold Stock Performance

Kinross Gold stock opened at C$33.66 on Friday. The stock has a market cap of C$40.19 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of -0.60 and a beta of 1.49. The company has a current ratio of 2.84, a quick ratio of 1.11 and a debt-to-equity ratio of 8.12. The stock has a 50 day moving average of C$36.12 and a 200-day moving average of C$41.70. Kinross Gold has a 52 week low of C$21.24 and a 52 week high of C$53.57.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last issued its quarterly earnings results on Wednesday, April 29th. The company reported C$0.99 earnings per share (EPS) for the quarter. The business had revenue of C$3.35 billion during the quarter. Kinross Gold had a net margin of 36.03% and a return on equity of 34.63%. On average, analysts expect that Kinross Gold will post 1.0071259 EPS for the current fiscal year.

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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