Kinross Gold (TSE:K) Price Target Raised to C$37.00

Key Points

• Canaccord Genuity Group raised Kinross Gold's price target from C$29.50 to C$37.00, indicating a potential upside of 6.97% from its recent close.
• UBS Group recently upgraded Kinross Gold to a "strong-buy" rating, contributing to a generally positive outlook with four analysts rating it as Strong Buy.
• Despite a recent dip in share price to C$34.59, Kinross Gold maintains a significant market cap of C$42.16 billion and has a robust P/E ratio of 27.90.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC had its price target boosted by stock analysts at Canaccord Genuity Group from C$29.50 to C$37.00 in a report released on Thursday,BayStreet.CA reports. Canaccord Genuity Group's price objective would suggest a potential upside of 6.97% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. UBS Group raised Kinross Gold to a "strong-buy" rating in a research note on Monday, August 4th. National Bankshares boosted their price target on shares of Kinross Gold from C$27.00 to C$28.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Raymond James Financial raised shares of Kinross Gold to a "hold" rating in a report on Monday, June 30th. Four equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of C$29.83.

Kinross Gold Price Performance

Shares of TSE K traded down C$0.88 during midday trading on Thursday, reaching C$34.59. The company's stock had a trading volume of 3,557,116 shares, compared to its average volume of 3,776,887. The company has a market cap of C$42.16 billion, a P/E ratio of 27.90, a P/E/G ratio of -0.60 and a beta of 0.67. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61. The business's 50 day moving average price is C$28.36 and its two-hundred day moving average price is C$22.90. Kinross Gold has a fifty-two week low of C$12.59 and a fifty-two week high of C$35.98.

Insider Buying and Selling

In related news, insider Claude J.S. Schimper sold 2,131 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$27.86, for a total transaction of C$59,369.66. Following the sale, the insider owned 35,258 shares of the company's stock, valued at C$982,287.88. This represents a 5.70% decrease in their ownership of the stock. 0.26% of the stock is currently owned by insiders.

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.

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