National Bank Financial Cuts Kinross Gold (TSE:K) Price Target to C$57.50

Key Points

• National Bank Financial trimmed its price target for Kinross Gold from C$60.00 to C$57.50 while keeping an “outperform” rating, a target that the firm says implies roughly a 19.7% upside from the stock's current level.
• Other analysts remain mostly positive — Stifel raised its target to C$65 and RBC upgraded to a “moderate buy” — and the MarketBeat consensus rating is a Moderate Buy with an average target of C$50.88.
• Kinross reported quarterly EPS of C$0.92 with a 33.95% net margin and 30.66% ROE; shares traded around C$48.05 mid-day (market cap ~C$57.54B) and sit within a 1‑year range of C$18.53–C$53.57.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC had its target price decreased by stock analysts at National Bank Financial from C$60.00 to C$57.50 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price target points to a potential upside of 19.67% from the stock's current price.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus increased their target price on shares of Kinross Gold from C$45.00 to C$65.00 and gave the stock a "buy" rating in a research note on Tuesday, February 10th. Royal Bank Of Canada raised shares of Kinross Gold from a "hold" rating to a "moderate buy" rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$50.88.

Kinross Gold Price Performance

Shares of TSE K traded up C$1.58 during mid-day trading on Friday, reaching C$48.05. The company's stock had a trading volume of 1,693,111 shares, compared to its average volume of 4,239,143. The stock has a 50-day moving average of C$44.50 and a two-hundred day moving average of C$40.83. The stock has a market capitalization of C$57.54 billion, a P/E ratio of 24.64, a P/E/G ratio of -0.60 and a beta of 1.48. The company has a debt-to-equity ratio of 9.08, a quick ratio of 1.11 and a current ratio of 2.35. Kinross Gold has a 1-year low of C$18.53 and a 1-year high of C$53.57.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last released its quarterly earnings data on Wednesday, February 18th. The company reported C$0.92 earnings per share (EPS) for the quarter. Kinross Gold had a net margin of 33.95% and a return on equity of 30.66%. The firm had revenue of C$2.68 billion during the quarter. On average, equities research analysts anticipate that Kinross Gold will post 1.0071259 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kinross Gold news, insider Afjal Hashim sold 16,980 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of C$37.20, for a total transaction of C$631,656.00. Following the sale, the insider owned 28,306 shares of the company's stock, valued at approximately C$1,052,983.20. This trade represents a 37.50% decrease in their ownership of the stock. 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. The company has historically used acquisitions to fuel expansion into new regions and production growth.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.