Kinross Gold Co. (TSE:K) Receives C$49.29 Consensus PT from Brokerages

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have been given a consensus rating of “Buy” by the eight analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$49.29.

A number of research analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Kinross Gold from C$45.00 to C$55.00 in a research report on Wednesday, April 22nd. Jefferies Financial Group cut 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 research report on Monday, May 18th. National Bank Financial decreased their target price on Kinross Gold from C$57.50 to C$50.00 and set an “outperform” rating for the company in a research report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating and set a C$56.00 target price on the stock in a research note on Friday, May 1st.

Kinross Gold Price Performance

Shares of TSE K opened at C$33.09 on Friday. Kinross Gold has a twelve month low of C$21.87 and a twelve month high of C$53.57. The firm has a fifty day simple moving average of C$35.67 and a 200 day simple moving average of C$41.44. The company has a market capitalization of C$39.51 billion, a PE ratio of 14.08, a P/E/G ratio of -0.60 and a beta of 1.49. The company has a quick ratio of 1.11, a current ratio of 2.84 and a debt-to-equity ratio of 8.12.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. Kinross Gold had a net margin of 36.03% and a return on equity of 34.63%. The business had revenue of C$3.18 billion for the quarter. On average, sell-side analysts forecast that Kinross Gold will post 1.0071259 EPS for the current year.

Insider Transactions at Kinross Gold

In related news, insider Stephen Kerrigan sold 791 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$39.12, for a total transaction of C$30,943.92. Following the completion of the transaction, the insider owned 84,936 shares of the company’s stock, valued at approximately C$3,322,696.32. The trade was a 0.92% decrease in their ownership of the stock. Also, insider Claude J.S. Schimper sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$40.33, for a total transaction of C$604,950.00. Following the sale, the insider directly owned 49,060 shares in the company, valued at C$1,978,589.80. This trade represents a 23.42% decrease in their position. Insiders sold 38,582 shares of company stock valued at $1,572,318 over the last three months. Company 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.