Kinross Gold (TSE:K) Stock Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Kinross Gold shares moved above their 200-day moving average, reaching C$42.71 before closing at C$41.62, compared with the C$40.08 average.
• Analyst sentiment remains positive, with an average rating of “Buy” and a consensus price target of C$47.36, despite some analysts recently lowering targets.
• The company reported C$1.01 in quarterly EPS on C$3.18 billion in revenue, while insiders have sold 33,338 shares worth approximately C$1.35 million over the past three months.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$40.08 and traded as high as C$42.71. Kinross Gold shares last traded at C$41.62, with a volume of 2,474,636 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on K shares. Freedom Capital raised Kinross Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 18th. National Bank Financial dropped their target price on Kinross Gold from C$50.00 to C$47.50 and set an "outperform" rating on the stock in a report on Friday, July 31st. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating and increased their target price for the stock from C$41.00 to C$45.00 in a research note on Friday, July 31st. Finally, Jefferies Financial Group cut their target price on Kinross Gold from C$41.00 to C$38.00 in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Kinross Gold presently has an average rating of "Buy" and an average price target of C$47.36.

Kinross Gold Price Performance

The firm's fifty day simple moving average is C$37.24 and its 200-day simple moving average is C$40.08. The firm has a market capitalization of C$49.70 billion, a PE ratio of 15.83, a PEG ratio of -0.60 and a beta of 1.68. The company has a quick ratio of 1.11, a current ratio of 2.89 and a debt-to-equity ratio of 7.65.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. The firm had revenue of C$3.18 billion for the quarter. Kinross Gold had a net margin of 37.56% and a return on equity of 35.91%. On average, research analysts forecast that Kinross Gold Co. will post 1.0071259 earnings per share for the current fiscal year.

Insider Buying and Selling at Kinross Gold

In other news, insider Laurence Davies sold 1,335 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total value of C$51,370.80. Following the completion of the transaction, the insider owned 11,855 shares in the company, valued at C$456,180.40. The trade was a 10.12% decrease in their ownership of the stock. Also, insider Daniel Fombonne sold 2,003 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total value of C$77,075.44. Following the completion of the transaction, the insider owned 16,155 shares of the company's stock, valued at C$621,644.40. This represents a 11.03% decrease in their position. In the last three months, insiders have sold 33,338 shares of company stock worth $1,351,546. 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.

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