National Bank Financial Lowers Kinross Gold (TSE:K) Price Target to C$50.00

Kinross Gold (TSE:K) (NYSE:KGC) had its price target lowered by equities research analysts at National Bank Financial from C$57.50 to C$50.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 48.81% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Jefferies Financial Group dropped their price target on Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. 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 report on Friday, May 1st. BMO Capital Markets boosted their target price on Kinross Gold from C$45.00 to C$55.00 in a research report on Wednesday, April 22nd. Finally, Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$49.29.

Kinross Gold Price Performance

Shares of K traded up C$0.39 during midday trading on Tuesday, reaching C$33.60. The stock had a trading volume of 1,786,929 shares, compared to its average volume of 3,821,229. Kinross Gold has a 52 week low of C$20.77 and a 52 week high of C$53.57. The company has a debt-to-equity ratio of 8.12, a current ratio of 2.84 and a quick ratio of 1.11. The firm’s 50 day moving average price is C$37.74 and its 200-day moving average price is C$42.12. The company has a market capitalization of C$40.12 billion, a P/E ratio of 14.30, a P/E/G ratio of -0.60 and a beta of 1.49.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data on Wednesday, April 29th. The company reported C$0.99 earnings per share (EPS) for the quarter. Kinross Gold had a net margin of 36.03% and a return on equity of 34.63%. The company had revenue of C$3.35 billion for the quarter. On average, analysts forecast that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Lucas Crosby sold 791 shares of the 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 value of C$30,943.92. Following the completion of the sale, the insider directly owned 33,988 shares of the company’s stock, valued at C$1,329,610.56. This represents a 2.27% decrease in their ownership of the stock. Also, insider Claude J.S. Schimper sold 15,000 shares of the firm’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 owned 49,060 shares of the company’s stock, valued at approximately C$1,978,589.80. This represents a 23.42% decrease in their ownership of the stock. In the last ninety days, insiders sold 38,582 shares of company stock worth $1,572,318. 0.26% of the stock is currently owned by company insiders.

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.