Kinross Gold (TSE:K) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• Kinross Gold shares have surpassed their 200-day moving average, trading as high as C$35.99 and closing at C$35.34 with significant trading volume of 4,420,060 shares.
• Multiple analysts have upgraded Kinross Gold's stock rating, with a consensus rating of "Buy" and a price target increase to C$29.83.
• The company recently announced a quarterly dividend of $0.03 per share, representing an annualized yield of 0.3% and a payout ratio of 9.68%.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$23.35 and traded as high as C$35.99. Kinross Gold shares last traded at C$35.34, with a volume of 4,420,060 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on K shares. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating in a report on Monday, June 30th. UBS Group upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Monday, August 4th. National Bankshares boosted their price objective on shares of Kinross Gold from C$27.00 to C$28.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Canaccord Genuity Group boosted their price objective on shares of Kinross Gold from C$29.50 to C$37.00 in a research note on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$29.83.

Kinross Gold Trading Up 1.3%

The firm's 50 day moving average price is C$29.16 and its 200-day moving average price is C$23.35. The stock has a market cap of C$43.07 billion, a P/E ratio of 28.50, a P/E/G ratio of -0.60 and a beta of 1.04. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Kinross Gold's payout ratio is currently 9.68%.

Insider Activity

In related news, insider Claude J.S. Schimper sold 2,131 shares of the stock in a transaction that occurred 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 transaction, the insider owned 35,258 shares in the company, 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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