Brokerages Set Kinross Gold Co. (TSE:K) PT at C$20.00

Kinross Gold Co. (TSE:K) (NYSE:KGC) has received a consensus rating of “Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$20.00.

K has been the subject of several analyst reports. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Stifel Nicolaus increased their price target on shares of Kinross Gold from C$23.50 to C$24.50 and gave the company a “buy” rating in a research note on Wednesday, May 7th. BMO Capital Markets raised shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday, April 16th. Finally, National Bankshares increased their price target on shares of Kinross Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Wednesday, April 2nd.

Insider Buying and Selling at Kinross Gold

In related news, Senior Officer Laurence Davies sold 10,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of C$20.13, for a total value of C$201,300.00. Also, Senior Officer Claude J.S. Schimper sold 1,339 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of C$20.39, for a total transaction of C$27,302.21. In the last three months, insiders have sold 56,339 shares of company stock valued at $957,708. Insiders own 0.26% of the company’s stock.

Kinross Gold Stock Down 0.5%

K stock opened at C$20.14 on Tuesday. The stock has a market capitalization of C$17.51 billion, a P/E ratio of 23.71, a P/E/G ratio of -0.60 and a beta of 1.24. The firm has a 50-day simple moving average of C$19.48 and a 200-day simple moving average of C$16.61. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81. Kinross Gold has a 52 week low of C$9.91 and a 52 week high of C$22.01.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.60%. Kinross Gold’s dividend payout ratio is presently 18.84%.

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.