Insider Selling: Kinross Gold (TSE:K) Insider Sells C$77,075.44 in Stock

Kinross Gold Co. (TSE:K) (NYSE:KGC) insider Daniel Fombonne sold 2,003 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total transaction of C$77,075.44. Following the sale, the insider owned 16,155 shares in the company, valued at approximately C$621,644.40. This trade represents a 11.03% decrease in their position.

Kinross Gold Stock Up 9.6%

K stock opened at C$41.30 on Thursday. The stock has a market capitalization of C$48.99 billion, a P/E ratio of 15.70, a PEG ratio of -0.60 and a beta of 1.48. The company has a debt-to-equity ratio of 7.65, a quick ratio of 1.11 and a current ratio of 2.89. Kinross Gold Co. has a one year low of C$26.01 and a one year high of C$53.57. The company has a 50 day moving average price of C$35.13 and a two-hundred day moving average price of C$40.25.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share for the quarter. Kinross Gold had a return on equity of 35.91% and a net margin of 37.56%.The company had revenue of C$3.18 billion for the quarter. As a group, sell-side analysts expect that Kinross Gold Co. will post 1.0071259 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on K shares. BMO Capital Markets raised their price target on Kinross Gold from C$45.00 to C$55.00 in a research note on Wednesday, April 22nd. National Bank Financial cut their price objective on shares of 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. Jefferies Financial Group decreased their target price on shares of Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and boosted their target price for the company from C$41.00 to C$45.00 in a report on Friday, July 31st. Finally, Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Kinross Gold currently has an average rating of “Buy” and a consensus price target of C$47.36.

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.