National Bank Financial Issues Pessimistic Forecast for Kinross Gold (TSE:K) Stock Price

Key Points

• National Bank Financial cut its price target on Kinross Gold from C$57.50 to C$50.00, while keeping an outperform rating. The new target still implies roughly 48.8% upside from the current share price.
• Other analysts remain mostly constructive: the stock has an overall Buy consensus with an average target price of C$49.29. Recent ratings changes included target cuts from Jefferies and upgrades from Freedom Capital and ATB Cormark.
• Kinross Gold shares traded at C$33.60 in Tuesday trading, below both its 50-day and 200-day moving averages. The company also reported strong recent quarterly results, including C$0.99 EPS and C$3.35 billion in revenue.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC had its price objective reduced by equities researchers at National Bank Financial from C$57.50 to C$50.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's price objective suggests a potential upside of 48.81% from the stock's current price.

Several other equities research analysts have also weighed in on the company. Jefferies Financial Group dropped their target price on Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. Freedom Capital raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. BMO Capital Markets upped their price target on shares of Kinross Gold from C$45.00 to C$55.00 in a research report on Wednesday, April 22nd. Finally, ATB Cormark Capital Markets raised shares of Kinross Gold from a "hold" rating to a "moderate buy" rating and set a C$56.00 price objective on the stock in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold presently has an average rating of "Buy" and an average target price of C$49.29.

Kinross Gold Stock Performance

TSE K traded up C$0.39 during trading hours on Tuesday, reaching C$33.60. The company's stock had a trading volume of 1,786,929 shares, compared to its average volume of 3,821,229. The company has a current ratio of 2.84, a quick ratio of 1.11 and a debt-to-equity ratio of 8.12. The business has a 50-day simple moving average of C$37.74 and a 200 day simple moving average of C$42.12. Kinross Gold has a 52 week low of C$20.77 and a 52 week high of C$53.57. The stock has a market cap of C$40.12 billion, a PE ratio of 14.30, a PEG ratio of -0.60 and a beta of 1.49.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last announced its quarterly earnings results on Wednesday, April 29th. The company reported C$0.99 earnings per share for the quarter. The business had revenue of C$3.35 billion for the quarter. Kinross Gold had a return on equity of 34.63% and a net margin of 36.03%. Equities research analysts predict that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

Insider Transactions at Kinross Gold

In related news, insider Stephen Kerrigan sold 791 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of C$39.12, for a total value of C$30,943.92. Following the completion of the transaction, the insider owned 84,936 shares in the company, valued at C$3,322,696.32. This represents a 0.92% decrease in their position. Also, insider Claude J.S. Schimper sold 15,000 shares of the stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$40.33, for a total transaction of C$604,950.00. Following the completion of the transaction, the insider owned 49,060 shares of the company's stock, valued at C$1,978,589.80. This represents a 23.42% decrease in their position. Over the last quarter, insiders sold 38,582 shares of company stock valued at $1,572,318. 0.26% of the stock is currently owned by corporate 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. 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.