Kinross Gold (TSE:K) Posts Earnings Results

Kinross Gold (TSE:K) (NYSE:KGC) announced its quarterly earnings data on Wednesday. The company reported C$0.99 EPS for the quarter, FiscalAI reports. The business had revenue of C$3.35 billion during the quarter. Kinross Gold had a net margin of 33.95% and a return on equity of 30.66%.

Kinross Gold Stock Down 2.1%

Shares of K opened at C$40.86 on Thursday. Kinross Gold has a 52 week low of C$18.53 and a 52 week high of C$53.57. The company has a debt-to-equity ratio of 9.08, a quick ratio of 1.11 and a current ratio of 2.35. The firm has a market capitalization of C$48.93 billion, a P/E ratio of 20.95, a P/E/G ratio of -0.60 and a beta of 1.48. The company has a 50-day simple moving average of C$44.18 and a 200-day simple moving average of C$41.47.

Analyst Upgrades and Downgrades

K has been the subject of a number of research analyst reports. National Bank Financial cut their price objective on shares of Kinross Gold from C$60.00 to C$57.50 and set an “outperform” rating for the company in a research report on Friday, April 17th. Stifel Nicolaus upped their price objective on shares of Kinross Gold from C$45.00 to C$65.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. BMO Capital Markets upped their price objective on shares of Kinross Gold from C$45.00 to C$55.00 in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$51.70.

Insider Transactions at Kinross Gold

In related news, insider Afjal Hashim sold 16,980 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of C$37.20, for a total value of C$631,656.00. Following the completion of the transaction, the insider owned 28,306 shares of the company’s stock, valued at C$1,052,983.20. This represents a 37.50% decrease in their ownership of the stock. 0.26% of the stock is owned by company insiders.

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.