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

Key Points

• Kinross Gold has a consensus “Buy” rating from seven analysts: five buys, one hold, and one strong buy. The average 12-month price target is C$47.36.
• Recent analyst actions were mixed, with target prices ranging from C$38 to C$55; BMO Capital Markets raised its target to C$55, while Jefferies lowered its target to C$38.
• Kinross reported quarterly EPS of C$1.01 on C$3.18 billion in revenue, with a 37.56% net margin. Insiders sold 30,338 shares worth about $1.22 million over the past three months.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC has received a consensus recommendation of "Buy" from the seven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$47.36.

A number of equities analysts recently issued reports on K shares. Freedom Capital upgraded shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 18th. BMO Capital Markets boosted their target price on shares of Kinross Gold from C$45.00 to C$55.00 in a research note on Wednesday, April 22nd. National Bank Financial lowered their price target 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 price target on Kinross Gold from C$41.00 to C$38.00 in a research note on Monday, July 6th. Finally, ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating and raised their price objective for the company from C$41.00 to C$45.00 in a report on Friday, July 31st.

Kinross Gold Stock Performance

Kinross Gold stock opened at C$41.30 on Thursday. Kinross Gold has a 12-month low of C$26.01 and a 12-month high of C$53.57. The company has a quick ratio of 1.11, a current ratio of 2.89 and a debt-to-equity ratio of 7.65. The business's 50-day moving average price is C$35.13 and its two-hundred day moving average price is C$40.25. The stock has a market cap of C$48.99 billion, a PE ratio of 15.70, a P/E/G ratio of -0.60 and a beta of 1.48.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last issued its earnings results on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. Kinross Gold had a return on equity of 35.91% and a net margin of 37.56%.The firm had revenue of C$3.18 billion during the quarter. As a group, analysts expect that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

Insider Buying and Selling at Kinross Gold

In other news, insider Claude J.S. Schimper sold 15,000 shares of the company's stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$40.33, for a total value of C$604,950.00. Following the completion of the transaction, the insider owned 49,060 shares of the company's stock, valued at C$1,978,589.80. This represents a 23.42% decrease in their ownership of the stock. Also, insider Daniel Fombonne sold 2,003 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of C$38.48, for a total transaction of C$77,075.44. Following the completion of the transaction, the insider owned 16,155 shares of the company's stock, valued at approximately C$621,644.40. This trade represents a 11.03% decrease in their position. Over the last three months, insiders sold 30,338 shares of company stock worth $1,219,276. 0.26% of the stock is currently owned by insiders.

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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