Stifel Nicolaus Raises Kinross Gold (TSE:K) Price Target to C$23.50

Kinross Gold (TSE:K) (NYSE:KGC) had its target price lifted by Stifel Nicolaus from C$19.50 to C$23.50 in a research report sent to investors on Monday morning,BayStreet.CA reports.

Several other equities analysts also recently commented on K. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. National Bankshares upped their price objective on shares of Kinross Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Wednesday, April 2nd. Finally, BMO Capital Markets raised shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, April 16th. Four analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$18.40.

Kinross Gold Price Performance

K opened at C$20.67 on Monday. The firm has a market cap of C$17.97 billion, a P/E ratio of 24.33, a PEG ratio of -0.60 and a beta of 1.24. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61. Kinross Gold has a fifty-two week low of C$8.69 and a fifty-two week high of C$21.36. The firm has a 50-day moving average of C$17.30 and a 200 day moving average of C$15.40.

Kinross Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.58%. Kinross Gold’s payout ratio is currently 18.84%.

Insider Transactions at Kinross Gold

In related news, Senior Officer Claude J.S. Schimper sold 10,000 shares of Kinross Gold stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$15.63, for a total value of C$156,300.00. Also, Director George Vincent Albino bought 5,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of C$16.07 per share, with a total value of C$80,369.87. Over the last 90 days, insiders sold 349,670 shares of company stock valued at $5,366,186. 0.26% of the stock is owned by corporate insiders.

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.