Kinross Gold (TSE:K) Trading Up 1.7% – What’s Next?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price shot up 1.7% during mid-day trading on Monday . The stock traded as high as C$17.90 and last traded at C$17.04. 1,616,492 shares traded hands during trading, a decline of 54% from the average session volume of 3,534,163 shares. The stock had previously closed at C$16.75.

Analyst Upgrades and Downgrades

K has been the subject of a number of analyst reports. 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 research report on Wednesday, April 2nd. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Kinross Gold has a consensus rating of “Buy” and a consensus target price of C$17.30.

Kinross Gold Price Performance

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 company’s fifty day moving average price is C$16.78 and its 200 day moving average price is C$15.01. The firm has a market capitalization of C$15.97 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24.

Kinross Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.65%. Kinross Gold’s dividend payout ratio (DPR) is presently 18.84%.

Insider Buying and Selling

In other news, Senior Officer Geoffrey Peters Gold sold 99,347 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$15.22, for a total value of C$1,512,061.34. Also, Senior Officer Claude J.S. Schimper sold 10,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$15.63, for a total transaction of C$156,300.00. In the last 90 days, insiders have sold 349,670 shares of company stock valued at $5,366,186. Insiders own 0.26% of the company’s stock.

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.