Kinross Gold Co. (TSE:K) Given Average Rating of “Buy” by Brokerages

Kinross Gold Co. (TSE:K) (NYSE:KGC) has received an average recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$29.83.

Several research firms recently commented on K. Raymond James Financial upgraded Kinross Gold to a “hold” rating in a research note on Monday, June 30th. UBS Group upgraded Kinross Gold to a “strong-buy” rating in a research note on Monday, August 4th. Canaccord Genuity Group boosted their price target on Kinross Gold from C$29.50 to C$37.00 in a research note on Thursday. Finally, National Bankshares boosted their price target on Kinross Gold from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st.

Kinross Gold Trading Up 0.3%

TSE:K opened at C$34.89 on Monday. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61. Kinross Gold has a one year low of C$12.59 and a one year high of C$35.98. The business’s 50-day simple moving average is C$28.88 and its 200 day simple moving average is C$23.22. The stock has a market cap of C$42.52 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of -0.60 and a beta of 1.04.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. Kinross Gold’s payout ratio is currently 9.68%.

Insider Transactions at Kinross Gold

In other Kinross Gold news, insider Claude J.S. Schimper sold 2,131 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of C$27.86, for a total transaction of C$59,369.66. Following the sale, the insider owned 35,258 shares in the company, valued at C$982,287.88. This represents a 5.70% decrease in their ownership of the stock. 0.26% of the stock is owned by 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.