Kinross Gold (TSE:K) Upgraded to “Outperform” at ATB Cormark Capital Markets

Kinross Gold (TSE:K) (NYSE:KGC) was upgraded by equities researchers at ATB Cormark Capital Markets from a “sector perform” rating to an “outperform” rating in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a C$56.00 price objective on the stock. ATB Cormark Capital Markets’ price objective would indicate a potential upside of 39.48% from the stock’s current price.

Other analysts have also issued reports about the stock. Royal Bank Of Canada upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, March 12th. National Bank Financial lowered their price objective on shares of Kinross Gold from C$60.00 to C$57.50 and set an “outperform” rating for the company in a report on Friday, April 17th. BMO Capital Markets raised their price objective on shares of Kinross Gold from C$45.00 to C$55.00 in a report on Wednesday, April 22nd. Finally, Stifel Nicolaus raised their price objective on shares of Kinross Gold from C$45.00 to C$65.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of C$52.42.

Kinross Gold Stock Down 2.4%

K traded down C$1.00 on Friday, hitting C$40.15. The company had a trading volume of 1,189,816 shares, compared to its average volume of 4,068,436. The company has a debt-to-equity ratio of 9.08, a current ratio of 2.35 and a quick ratio of 1.11. Kinross Gold has a 52-week low of C$18.53 and a 52-week high of C$53.57. The stock has a fifty day simple moving average of C$44.09 and a 200-day simple moving average of C$41.47. The firm has a market capitalization of C$48.08 billion, a P/E ratio of 20.59, a P/E/G ratio of -0.60 and a beta of 1.48.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings data on Wednesday, April 29th. The company reported C$0.99 EPS for the quarter. Kinross Gold had a net margin of 33.95% and a return on equity of 30.66%. The business had revenue of C$3.35 billion during the quarter. As a group, equities analysts expect that Kinross Gold will post 1.0071259 EPS for the current fiscal year.

Insider Activity

In other news, insider Afjal Hashim sold 16,980 shares of Kinross Gold stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of C$37.20, for a total transaction of C$631,656.00. Following the completion of the transaction, the insider directly owned 28,306 shares in the company, valued at approximately C$1,052,983.20. This trade represents a 37.50% decrease in their ownership of the stock. 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.