Kinross Gold (TSE:K) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$40.08 and traded as high as C$42.71. Kinross Gold shares last traded at C$41.62, with a volume of 2,474,636 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on K shares. National Bank Financial decreased their target price on Kinross Gold from C$50.00 to C$47.50 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and upped their price objective for the stock from C$41.00 to C$45.00 in a research report on Friday, July 31st. Finally, Jefferies Financial Group reduced their price objective on shares of Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$47.36.

Kinross Gold Trading Down 4.2%

The stock has a market capitalization of C$47.76 billion, a PE ratio of 15.21, a P/E/G ratio of -0.60 and a beta of 1.68. The company’s 50 day moving average price is C$37.41 and its two-hundred day moving average price is C$40.05. The company has a debt-to-equity ratio of 7.65, a current ratio of 2.89 and a quick ratio of 1.11.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. The company had revenue of C$3.18 billion during the quarter. Kinross Gold had a net margin of 37.56% and a return on equity of 35.91%. As a group, analysts expect that Kinross Gold Co. will post 1.0071259 earnings per share for the current year.

Insider Transactions at Kinross Gold

In related news, insider William D. Dunford sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of C$40.77, for a total value of C$1,223,100.00. Following the completion of the sale, the insider owned 27,374 shares of the company’s stock, valued at approximately C$1,116,037.98. This trade represents a 52.29% decrease in their ownership of the stock. Also, insider Laurence Davies sold 1,335 shares of Kinross Gold stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total value of C$51,370.80. Following the transaction, the insider owned 11,855 shares in the company, valued at approximately C$456,180.40. The trade was a 10.12% decrease in their position. Insiders have sold a total of 33,338 shares of company stock worth $1,351,546 in the last ninety days. 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.