UBS Group Upgrades Kinross Gold (TSE:K) to Strong-Buy

Key Points

• Kinross Gold has received an upgrade to a "strong-buy" rating from UBS Group, signaling increased confidence in the company's future performance.
• Other analysts have also raised their price targets and ratings on Kinross Gold, reflecting a positive sentiment in the market with a consensus target price of C$21.25.
• Kinross Gold is a major gold producer, with significant reserves and operations across the Americas, West Africa, and Russia, producing approximately 2.4 million gold equivalent ounces in 2020.

UBS Group upgraded shares of Kinross Gold (TSE:K - Free Report) NYSE: KGC to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other analysts have also weighed in on the company. Stifel Nicolaus boosted their price objective on Kinross Gold from C$23.50 to C$24.50 and gave the company a "buy" rating in a report on Wednesday, May 7th. Raymond James Financial raised Kinross Gold to a "hold" rating in a research note on Monday, June 30th. BMO Capital Markets raised Kinross Gold to a "strong-buy" rating in a research report on Wednesday, April 16th. Finally, National Bankshares boosted their price target on shares of Kinross Gold from C$27.00 to C$28.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One analyst has rated the stock with a hold rating, four have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of C$21.25.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at C$25.73 on Monday. Kinross Gold has a 52 week low of C$11.11 and a 52 week high of C$25.77. The firm has a market capitalization of C$22.37 billion, a P/E ratio of 30.29, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81. The firm's 50 day moving average is C$21.47 and its two-hundred day moving average is C$19.12.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold's payout ratio is currently 18.84%.

Insider Activity

In other news, Senior Officer Claude J.S. Schimper sold 1,339 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of C$20.39, for a total transaction of C$27,302.21. Also, Director George Nickolas Paspalas acquired 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were purchased at an average cost of C$19.20 per share, for a total transaction of C$38,400.00. Over the last 90 days, insiders sold 42,833 shares of company stock valued at $901,122. 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.