Kinross Gold (TSE:K) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Kinross Gold's stock has surpassed its 200-day moving average, trading at C$28.71 with a volume of nearly 7 million shares, indicating strong market interest.
• Analysts are optimistic about Kinross Gold, with ratings ranging from "Strong Buy" to "Hold," and an average target price of C$21.25, suggesting potential for growth.
• The company declared a quarterly dividend of $0.03 per share, representing a yield of 0.4%, underlining a commitment to returning value to shareholders.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$20.51 and traded as high as C$28.80. Kinross Gold shares last traded at C$28.71, with a volume of 6,934,426 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on K shares. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating in a research note on Monday, June 30th. National Bankshares upped 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. UBS Group raised Kinross Gold to a "strong-buy" rating in a research report on Monday, August 4th. Finally, Stifel Nicolaus boosted their price objective on Kinross Gold from C$23.50 to C$24.50 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Four investment 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. According to MarketBeat.com, Kinross Gold has an average rating of "Buy" and a consensus target price of C$21.25.

Kinross Gold Trading Up 1.9%

The stock has a market cap of C$36.71 billion, a P/E ratio of 24.29, a PEG ratio of -0.60 and a beta of 0.54. 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 business's 50 day simple moving average is C$23.98 and its two-hundred day simple moving average is C$20.64.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Kinross Gold's dividend payout ratio is currently 9.68%.

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.