Kinross Gold (TSE:K) Given New C$47.50 Price Target at National Bank Financial

Key Points

• National Bank Financial lowered Kinross Gold’s price target from C$50.00 to C$47.50 while maintaining an “outperform” rating, implying approximately 46.9% upside from the reported C$32.34 share price.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of C$47.36; recent targets range from C$38.00 to C$55.00.
• Kinross shares fell 2.3% to C$32.34 in Friday trading. The company recently reported C$1.01 quarterly EPS and C$3.18 billion in revenue, while insiders have sold 38,582 shares worth roughly C$1.57 million over the past 90 days.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC had its price target lowered by analysts at National Bank Financial from C$50.00 to C$47.50 in a report released on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price would suggest a potential upside of 46.88% from the company's current price.

A number of other equities analysts have also recently issued reports on K. Freedom Capital upgraded Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from C$41.00 to C$45.00 in a research note on Friday. Jefferies Financial Group dropped their price objective on shares of Kinross Gold from C$41.00 to C$38.00 in a research note on Monday, July 6th. Finally, BMO Capital Markets lifted their price objective on shares of Kinross Gold from C$45.00 to C$55.00 in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$47.36.

Kinross Gold Trading Down 2.3%

Shares of TSE K traded down C$0.75 during midday trading on Friday, reaching C$32.34. The stock had a trading volume of 1,258,675 shares, compared to its average volume of 3,756,725. The company's 50 day moving average price is C$35.67 and its 200 day moving average price is C$41.44. The company has a debt-to-equity ratio of 8.12, a quick ratio of 1.11 and a current ratio of 2.84. Kinross Gold has a twelve month low of C$21.87 and a twelve month high of C$53.57. The firm has a market cap of C$38.62 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of -0.60 and a beta of 1.49.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last issued its earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share for the quarter. Kinross Gold had a return on equity of 34.63% and a net margin of 36.03%.The business had revenue of C$3.18 billion during the quarter. As a group, sell-side analysts expect that Kinross Gold will post 1.0071259 EPS for the current year.

Insider Buying and Selling

In other Kinross Gold news, insider Claude J.S. Schimper sold 15,000 shares of Kinross Gold stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$40.33, for a total value of C$604,950.00. Following the sale, the insider owned 49,060 shares of the company's stock, valued at approximately C$1,978,589.80. The trade was a 23.42% decrease in their ownership of the stock. Also, insider Stephen Kerrigan sold 791 shares of Kinross Gold stock in a transaction dated Friday, May 15th. The stock was sold at an average price of C$39.12, for a total transaction of C$30,943.92. Following the completion of the sale, the insider directly owned 84,936 shares in the company, valued at approximately C$3,322,696.32. This represents a 0.92% decrease in their position. Over the last 90 days, insiders sold 38,582 shares of company stock worth $1,572,318. Insiders own 0.26% of the company's stock.

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.

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