Kinross Gold (TSE:K) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC's share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$18.04 and traded as high as C$21.08. Kinross Gold shares last traded at C$20.98, with a volume of 2,413,413 shares trading hands.

Analyst Upgrades and Downgrades

K has been the subject of a number of recent research reports. Raymond James Financial raised Kinross Gold to a "hold" rating in a research note on Monday, June 30th. Stifel Nicolaus increased their price objective on Kinross Gold from C$23.50 to C$24.50 and gave the stock a "buy" rating in a report on Wednesday, May 7th. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Stifel Canada raised shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, National Bankshares increased their price target on shares of Kinross Gold from C$25.00 to C$26.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. One analyst has rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$20.75.

Kinross Gold Trading Up 1.5%

The firm has a market capitalization of C$18.50 billion, a P/E ratio of 25.05, a PEG ratio of -0.60 and a beta of 1.24. The business has a 50-day moving average price of C$20.71 and a 200-day moving average price of C$18.17. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.56%. Kinross Gold's payout ratio is presently 18.84%.

Insiders Place Their Bets

In other news, Director George Nickolas Paspalas purchased 2,000 shares of Kinross Gold stock in a transaction 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. Also, Senior Officer Laurence Davies sold 10,000 shares of Kinross Gold stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of C$20.13, for a total transaction of C$201,300.00. Insiders have sold 42,833 shares of company stock worth $901,122 over the last quarter. Corporate 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.