National Bankshares Forecasts Strong Price Appreciation for Kinross Gold (TSE:K) Stock

Kinross Gold (TSE:K) (NYSE:KGC) had its price objective increased by equities research analysts at National Bankshares from C$25.00 to C$26.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ target price indicates a potential upside of 23.46% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. BMO Capital Markets upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus upped their price target on shares of Kinross Gold from C$23.50 to C$24.50 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Four research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and an average target price of C$20.75.

Kinross Gold Stock Performance

Shares of TSE:K traded down C$0.51 during trading on Tuesday, hitting C$21.06. 2,079,599 shares of the company were exchanged, compared to its average volume of 3,572,938. Kinross Gold has a 52-week low of C$10.31 and a 52-week high of C$22.02. The stock has a 50 day moving average of C$20.45 and a 200 day moving average of C$17.45. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. The company has a market cap of C$18.31 billion, a PE ratio of 24.79, a P/E/G ratio of -0.60 and a beta of 1.24.

Insider Activity

In other news, Senior Officer Geoffrey Peters Gold sold 18,834 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of C$21.27, for a total value of C$400,599.18. Also, Senior Officer Claude J.S. Schimper sold 1,339 shares of the company’s 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 quarter, insiders have sold 47,833 shares of company stock worth $990,972. 0.26% of the stock is currently owned by corporate insiders.

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.