Kinross Gold Co. (TSE:K) Receives C$47.36 Consensus Price Target from Brokerages

Kinross Gold Co. (TSE:K) (NYSE:KGC) has earned an average rating of “Buy” from the seven brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$47.36.

K has been the topic of several research reports. National Bank Financial lowered their target price on 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. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating and raised their price target for the company from C$41.00 to C$45.00 in a research report on Friday, July 31st. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, Jefferies Financial Group decreased their price objective on shares of Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th.

Insiders Place Their Bets

In other Kinross Gold news, insider Daniel Fombonne sold 2,003 shares of Kinross Gold stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of C$38.48, for a total transaction of C$77,075.44. Following the completion of the transaction, the insider owned 16,155 shares in the company, valued at approximately C$621,644.40. The trade was a 11.03% 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 shares were sold at an average price of C$38.48, for a total transaction of C$51,370.80. Following the completion of the sale, the insider directly owned 11,855 shares in the company, valued at C$456,180.40. This trade represents a 10.12% decrease in their position. Over the last quarter, insiders sold 33,338 shares of company stock worth $1,351,546. Insiders own 0.26% of the company’s stock.

Kinross Gold Price Performance

Shares of TSE:K opened at C$44.83 on Thursday. The firm has a market capitalization of C$53.18 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of -0.60 and a beta of 1.48. The company has a debt-to-equity ratio of 7.65, a current ratio of 2.89 and a quick ratio of 1.11. The business’s 50 day simple moving average is C$35.90 and its 200-day simple moving average is C$40.29. Kinross Gold has a 12 month low of C$27.53 and a 12 month high of C$53.57.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share 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 analysts forecast that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

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.