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

Key Points

• Kinross Gold Co. (TSE:K) has received a consensus recommendation of "Buy" from seven brokerages, with an average price target of C$29.83 over the next year.
• The company recently declared a quarterly dividend of $0.03 per share, resulting in an annualized dividend yield of 0.4%.
• Kinross Gold operates in multiple regions and produced approximately 2.4 million gold equivalent ounces in 2020, holding significant gold and silver reserves.

Shares of Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC have earned a consensus recommendation of "Buy" from the seven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and four have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$29.83.

K has been the topic of a number of research analyst reports. National Bankshares boosted their target price 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 report on Monday, June 30th. Canaccord Genuity Group lifted their price target on Kinross Gold from C$29.50 to C$37.00 in a research note on Thursday, October 2nd. Finally, UBS Group upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Monday, August 4th.

Kinross Gold Trading Up 1.4%

TSE:K opened at C$33.40 on Friday. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. The firm has a 50-day moving average of C$31.89 and a 200-day moving average of C$24.82. Kinross Gold has a one year low of C$12.79 and a one year high of C$39.09. The company has a market cap of C$40.71 billion, a PE ratio of 26.94, a PEG ratio of -0.60 and a beta of 1.04.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued 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 9.68%.

Insider Activity at Kinross Gold

In other Kinross Gold news, insider Claude J.S. Schimper sold 2,131 shares of Kinross Gold stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of C$27.86, for a total value of C$59,369.66. Following the completion of the sale, the insider owned 35,258 shares of the company's stock, valued at approximately C$982,287.88. This trade represents a 5.70% decrease in their position. Insiders own 0.26% of the company's stock.

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.

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