Kinross Gold (TSE:K) Stock Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Kinross Gold shares moved above their 200-day moving average, reaching C$39.68 before closing at C$39.07. The stock’s 200-day average was C$39.52.
• Analyst sentiment remains broadly positive, with an average rating of “Buy” and a consensus price target of C$47.36, although some firms recently lowered their targets while ATB Cormark upgraded the stock to “moderate buy.”
• Kinross reported C$1.01 in quarterly EPS on C$3.18 billion in revenue, alongside a 35.91% return on equity and 37.56% net margin. Insiders sold approximately C$1.35 million of shares during the past 90 days.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC's share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$39.52 and traded as high as C$39.68. Kinross Gold shares last traded at C$39.07, with a volume of 3,650,922 shares traded.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. National Bank Financial lowered their price target on shares of Kinross Gold from C$50.00 to C$47.50 and set an "outperform" rating for the company in a report on Friday, July 31st. Jefferies Financial Group reduced their price objective on Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. Finally, ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating and upped their target price for the stock from C$41.00 to C$45.00 in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$47.36.

Kinross Gold Stock Performance

The stock has a market cap of C$46.65 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of -0.60 and a beta of 1.68. The company has a debt-to-equity ratio of 7.65, a current ratio of 2.89 and a quick ratio of 1.11. The company's fifty day simple moving average is C$38.23 and its two-hundred day simple moving average is C$39.52.

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

Insider Buying and Selling at Kinross Gold

In related news, insider William D. Dunford sold 30,000 shares of Kinross Gold 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 value of C$1,223,100.00. Following the completion of the transaction, the insider directly owned 27,374 shares in the company, valued at approximately C$1,116,037.98. The trade was a 52.29% decrease in their position. Also, insider Laurence Davies sold 1,335 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of C$38.48, for a total value of C$51,370.80. Following the sale, the insider owned 11,855 shares in the company, valued at approximately C$456,180.40. The trade was a 10.12% decrease in their ownership of the stock. In the last 90 days, insiders sold 33,338 shares of company stock worth $1,351,546. Insiders own 0.26% of the company's stock.

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.