Kinross Gold (TSE:K) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$28.46 and traded as high as C$37.99. Kinross Gold shares last traded at C$36.67, with a volume of 3,501,387 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on K shares. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Desjardins set a C$44.00 price target on shares of Kinross Gold and gave the company a “buy” rating in a research report on Friday, November 28th. Finally, Canaccord Genuity Group raised their price objective on shares of Kinross Gold from C$29.50 to C$37.00 in a research report on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$33.38.

Kinross Gold Stock Down 2.8%

The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61. The firm has a market capitalization of C$44.26 billion, a price-to-earnings ratio of 25.64, a PEG ratio of -0.60 and a beta of 1.24. The firm has a fifty day moving average price of C$35.29 and a 200 day moving average price of C$28.46.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.44 earnings per share for the quarter. Kinross Gold had a return on equity of 11.72% and a net margin of 15.23%.The firm had revenue of C$2.51 billion for the quarter. As a group, sell-side analysts expect that Kinross Gold Co. will post 1.0071259 EPS 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.