Kinross Gold (TSE:K) Reaches New 1-Year Low - What's Next?

Key Points

• Kinross Gold shares fell to a new 52-week low, trading as low as C$29.66 versus a previous close of C$32.18.
• Despite the decline, analysts remain broadly positive: the stock has an average “Buy” rating and a consensus price target of C$48.58, well above its recent trading level.
• Kinross reported quarterly EPS of C$0.71 on C$2.53 billion in revenue, while insiders sold 33,338 shares worth approximately C$1.35 million over the past 90 days.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC shares hit a new 52-week low on Thursday. The stock traded as low as C$29.66 and last traded at C$30.37, with a volume of 528,316 shares changing hands. The stock had previously closed at C$32.18.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on K. BMO Capital Markets lowered their price objective on Kinross Gold from C$49.00 to C$48.00 and set an "outperform" rating on the stock in a research report on Thursday, September 24th. National Bank Financial reduced their target price on Kinross Gold from C$45.00 to C$42.50 and set an "outperform" rating for the company in a report on Tuesday, October 20th. Desjardins lowered their price target on Kinross Gold from C$58.00 to C$53.00 and set a "buy" rating on the stock in a report on Thursday, September 24th. Jefferies Financial Group lowered their price target on Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. Finally, ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating and increased their price objective for the company from C$41.00 to C$45.00 in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$48.58.

Kinross Gold Price Performance

The stock has a market capitalization of C$36.23 billion, a P/E ratio of 11.54, a PEG ratio of -0.60 and a beta of 1.75. The company has a debt-to-equity ratio of 7.65, a quick ratio of 1.11 and a current ratio of 2.89. The firm has a fifty day moving average price of C$37.59 and a two-hundred day moving average price of C$40.14.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last issued its quarterly earnings data on Wednesday, October 28th. The company reported C$0.71 EPS for the quarter. The company had revenue of C$2.53 billion during the quarter. Kinross Gold had a return on equity of 35.91% and a net margin of 37.56%. As a group, analysts expect that Kinross Gold Co. will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, insider William D. Dunford sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of C$40.77, for a total transaction of C$1,223,100.00. Following the completion of the sale, the insider directly owned 27,374 shares of the company's stock, valued at approximately C$1,116,037.98. This represents a 52.29% decrease in their ownership of the stock. Also, insider Laurence Davies sold 1,335 shares of Kinross Gold stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total transaction of C$51,370.80. Following the transaction, the insider owned 11,855 shares in the company, valued at C$456,180.40. This represents a 10.12% decrease in their position. Over the last ninety days, insiders sold 33,338 shares of company stock valued at $1,351,546. Insiders own 0.26% of the company's stock.

About Kinross Gold

Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange symbol: K and the New York Stock Exchange symbol: KGC.

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