Kinross Gold (TSE:K) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Kinross Gold shares have risen above their 200-day moving average, with the stock currently trading at C$25.91 after reaching a high of C$26.80.
• Multiple analysts have recently rated Kinross Gold positively, with upgrades from Raymond James to "hold" and UBS Group to "strong-buy," reflecting growing confidence in the stock.
• The company declared a quarterly dividend of $0.03 per share, with a yield of 0.5%, indicating a commitment to return value to shareholders.

Shares of Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$19.81 and traded as high as C$26.80. Kinross Gold shares last traded at C$25.91, with a volume of 2,390,795 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on K. Stifel Nicolaus lifted their price target on shares of Kinross Gold from C$23.50 to C$24.50 and gave the company a "buy" rating in a research report on Wednesday, May 7th. UBS Group upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Monday, August 4th. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating in a report on Monday, June 30th. Finally, National Bankshares lifted 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 report on Friday, August 1st. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Kinross Gold currently has a consensus rating of "Buy" and an average target price of C$21.25.

Kinross Gold Stock Up 0.9%

The stock has a market capitalization of C$23.78 billion, a PE ratio of 32.20, a PEG ratio of -0.60 and a beta of 1.24. The firm's fifty day moving average is C$22.93 and its 200-day moving average is C$20.12. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. Kinross Gold's dividend payout ratio is currently 18.84%.

Insider Activity

In related news, Senior Officer Geoffrey Peters Gold sold 18,834 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of C$21.27, for a total transaction of C$400,599.18. Also, Senior Officer Lucas Crosby sold 12,660 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of C$21.48, for a total transaction of C$271,920.34. Corporate 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.