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

Key Points

• Kinross Gold shares moved above their 200-day moving average, reaching C$45.43 before closing at C$43.49, compared with a 200-day average of C$40.32.
• Analyst sentiment is broadly positive: the stock carries an average “Buy” rating and a consensus price target of C$47.36, although some firms recently lowered their targets.
• The company reported C$1.01 in quarterly EPS on C$3.18 billion in revenue, while insiders sold about 33,338 shares worth roughly C$1.35 million over the past 90 days.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$40.32 and traded as high as C$45.43. Kinross Gold shares last traded at C$43.49, with a volume of 3,004,500 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on K. ATB Cormark Capital Markets raised shares of 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. Jefferies Financial Group dropped their target price on shares of Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. National Bank Financial cut 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. Finally, Freedom Capital upgraded shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold has an average rating of "Buy" and an average price target of C$47.36.

Kinross Gold Price Performance

The stock has a fifty day moving average of C$36.18 and a two-hundred day moving average of C$40.32. The stock has a market capitalization of C$51.59 billion, a price-to-earnings ratio of 16.54, a PEG ratio of -0.60 and a beta of 1.48. The company has a current ratio of 2.89, a quick ratio of 1.11 and a debt-to-equity ratio of 7.65.

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 earnings per share (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%. As a group, equities research analysts forecast that Kinross Gold Co. will post 1.0071259 earnings per share for the current year.

Insider Activity

In related news, insider William D. Dunford sold 30,000 shares of Kinross Gold stock in a transaction dated Wednesday, August 19th. The stock was 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 of the company's stock, valued at C$1,116,037.98. The trade was a 52.29% decrease in their ownership of the stock. Also, insider Laurence Davies sold 1,335 shares of the company's stock in a transaction dated 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 approximately C$456,180.40. This trade represents a 10.12% decrease in their position. Over the last ninety days, insiders sold 33,338 shares of company stock worth $1,351,546. 0.26% of the stock is 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.

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