Kinross Gold Co. (TSE:K) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) have been assigned an average recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$52.42.

A number of equities analysts recently weighed in on K shares. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and set a C$56.00 target price for the company in a research report on Friday, May 1st. Royal Bank Of Canada upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, March 12th. National Bank Financial lowered 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. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, BMO Capital Markets increased their price objective on shares of Kinross Gold from C$45.00 to C$55.00 in a research report on Wednesday, April 22nd.

Kinross Gold Price Performance

Shares of TSE:K opened at C$35.76 on Friday. The company has a debt-to-equity ratio of 8.12, a quick ratio of 1.11 and a current ratio of 2.84. The firm has a fifty day moving average price of C$41.69 and a 200 day moving average price of C$42.55. Kinross Gold has a fifty-two week low of C$20.16 and a fifty-two week high of C$53.57. The firm has a market cap of C$42.70 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of -0.60 and a beta of 1.36.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Wednesday, April 29th. The company reported C$0.99 earnings per share for the quarter. Kinross Gold had a net margin of 36.03% and a return on equity of 34.63%. The firm had revenue of C$3.35 billion during the quarter. As a group, sell-side analysts expect that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, insider Afjal Hashim sold 16,980 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of C$37.20, for a total transaction of C$631,656.00. Following the completion of the transaction, the insider owned 28,306 shares in the company, valued at C$1,052,983.20. This trade represents a 37.50% decrease in their ownership of the stock. Also, insider Claude J.S. Schimper sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 25th. The stock was sold at an average price of C$40.33, for a total transaction of C$604,950.00. Following the completion of the sale, the insider owned 49,060 shares of the company’s stock, valued at C$1,978,589.80. This trade represents a 23.42% decrease in their position. Insiders have sold 55,562 shares of company stock worth $2,203,974 over the last three months. 0.26% of the stock is owned by company 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. The company has historically used acquisitions to fuel expansion into new regions and production growth.