Kinross Gold (TSE:K) Insider Sells C$77,075.44 in Stock

Key Points

• Insider Daniel Fombonne sold 2,003 Kinross Gold shares at an average price of C$38.48, generating C$77,075.44. His remaining direct ownership fell 11.03% to 16,155 shares.
• Kinross shares rose 1.8% to C$38.57 during Monday trading, giving the company a market capitalization of approximately C$45.75 billion.
• Analysts maintain a generally positive outlook, with an average “Buy” rating and a consensus price target of C$47.36. The company recently reported quarterly EPS of C$1.01 and revenue of C$3.18 billion.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC insider Daniel Fombonne sold 2,003 shares of the 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 sale, the insider directly owned 16,155 shares in the company, valued at approximately C$621,644.40. This represents a 11.03% decrease in their ownership of the stock.

Kinross Gold Stock Up 1.8%

Shares of K traded up C$0.68 during midday trading on Monday, reaching C$38.57. The stock had a trading volume of 1,283,197 shares, compared to its average volume of 3,764,058. The company has a market cap of C$45.75 billion, a price-to-earnings ratio of 14.67, a PEG ratio of -0.60 and a beta of 1.48. The company's fifty day simple moving average is C$34.86 and its two-hundred day simple moving average is C$40.50. Kinross Gold Co. has a 1-year low of C$25.85 and a 1-year high of C$53.57. The company has a debt-to-equity ratio of 7.65, a current ratio of 2.89 and a quick ratio of 1.11.

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. The firm had revenue of C$3.18 billion during the quarter. Kinross Gold had a net margin of 37.56% and a return on equity of 35.91%. Equities research analysts expect that Kinross Gold Co. will post 1.0071259 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on K shares. BMO Capital Markets increased their price objective on Kinross Gold from C$45.00 to C$55.00 in a report on Wednesday, April 22nd. Jefferies Financial Group lowered their price target on Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. National Bank Financial dropped their price target on shares of Kinross Gold from C$50.00 to C$47.50 and set an "outperform" rating on the stock in a research note on Friday, July 31st. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a "hold" rating to a "moderate buy" rating and boosted their price objective for the stock from C$41.00 to C$45.00 in a research report on Friday, July 31st. Finally, Freedom Capital upgraded shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$47.36.

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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