Kinross Gold (TSE:K) Shares Cross Above Two Hundred Day Moving Average - Here's Why

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.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 traded.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Raymond James Financial raised shares of Kinross Gold to a "hold" rating in a report on Monday, June 30th. National Bankshares raised 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 research note on Friday, August 1st. UBS Group upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Monday, August 4th. Finally, Stifel Nicolaus raised 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 note on Wednesday, May 7th. Four equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$21.25.

Kinross Gold Stock Down 0.1%

The stock has a market cap of C$23.56 billion, a P/E ratio of 31.90, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81. The firm's fifty day moving average is C$22.80 and its 200 day moving average is C$20.02.

Kinross Gold Announces Dividend

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

Insider Buying and Selling at Kinross Gold

In related news, Senior Officer Geoffrey Peters Gold sold 18,834 shares of Kinross Gold stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of C$21.27, for a total value of C$400,599.18. Also, Senior Officer Lucas Crosby sold 12,660 shares of Kinross Gold stock in a transaction on Monday, June 2nd. The stock was sold at an average price of C$21.48, for a total transaction of C$271,920.34. Company insiders own 0.26% of the company's stock.

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.