Kinross Gold (TSE:K) Rating Increased to Strong-Buy at Freedom Capital

Kinross Gold (TSE:K) (NYSE:KGC) was upgraded by analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

K has been the subject of a number of other reports. BMO Capital Markets raised their price target on Kinross Gold from C$45.00 to C$55.00 in a report on Wednesday, April 22nd. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating and set a C$56.00 price target for the company in a report on Friday, May 1st. Royal Bank Of Canada raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, March 12th. Stifel Nicolaus increased their price objective on Kinross Gold from C$45.00 to C$65.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, National Bank Financial lowered their price objective on Kinross Gold from C$60.00 to C$57.50 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and an average target price of C$52.42.

Kinross Gold Price Performance

Kinross Gold stock opened at C$39.03 on Monday. Kinross Gold has a one year low of C$18.59 and a one year high of C$53.57. The business has a fifty day moving average price of C$42.79 and a 200-day moving average price of C$42.07. The company has a debt-to-equity ratio of 8.12, a current ratio of 2.84 and a quick ratio of 1.11. The firm has a market capitalization of C$46.61 billion, a P/E ratio of 16.61, a PEG ratio of -0.60 and a beta of 1.47.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings results on Wednesday, April 29th. The company reported C$0.99 EPS for the quarter. Kinross Gold had a return on equity of 34.63% and a net margin of 36.03%.The firm had revenue of C$3.35 billion during the quarter. As a group, equities research analysts forecast that Kinross Gold will post 1.0071259 EPS for the current year.

Insiders Place Their Bets

In other Kinross Gold news, insider Claude J.S. Schimper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of C$41.96, for a total transaction of C$419,600.00. Following the sale, the insider owned 64,060 shares in the company, valued at C$2,687,957.60. This trade represents a 13.50% decrease in their ownership of the stock. Also, insider Afjal Hashim sold 16,980 shares of the firm’s 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 sale, the insider owned 28,306 shares in the company, valued at C$1,052,983.20. The trade was a 37.50% decrease in their position. Company 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. The company has historically used acquisitions to fuel expansion into new regions and production growth.