Kinross Gold Co. (TSE:K) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have earned a consensus rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$52.42.

Several brokerages recently weighed in on K. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and set a C$56.00 price target on the stock in a research report on Friday, May 1st. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. National Bank Financial reduced their price target on shares of Kinross Gold from C$60.00 to C$57.50 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Royal Bank Of Canada upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, March 12th. Finally, BMO Capital Markets boosted their price target on shares of Kinross Gold from C$45.00 to C$55.00 in a research report on Wednesday, April 22nd.

Kinross Gold Trading Down 0.5%

Shares of K opened at C$33.58 on Wednesday. The company’s fifty day moving average is C$39.42 and its 200 day moving average is C$42.43. Kinross Gold has a fifty-two week low of C$20.61 and a fifty-two week high of C$53.57. The stock has a market capitalization of C$40.10 billion, a PE ratio of 14.29, a P/E/G ratio of -0.60 and a beta of 1.36. The company has a debt-to-equity ratio of 8.12, a quick ratio of 1.11 and a current ratio of 2.84.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings results on Wednesday, April 29th. The company reported C$0.99 earnings per share 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. Sell-side analysts expect that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Claude J.S. Schimper sold 15,000 shares of the business’s stock in a transaction on Monday, May 25th. The shares were sold at an average price of C$40.33, for a total value of C$604,950.00. Following the sale, the insider owned 49,060 shares in the company, valued at approximately C$1,978,589.80. The trade was a 23.42% decrease in their ownership of the stock. Also, insider Stephen Kerrigan sold 791 shares of Kinross Gold stock in a transaction on Friday, May 15th. The stock was sold at an average price of C$39.12, for a total transaction of C$30,943.92. Following the transaction, the insider directly owned 84,936 shares of the company’s stock, valued at C$3,322,696.32. The trade was a 0.92% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 38,582 shares of company stock worth $1,572,318. 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.