Brokerages Set Kinross Gold Co. (TSE:K) PT at C$29.83

Kinross Gold Co. (TSE:K) (NYSE:KGC) has been given an average rating of “Buy” by the seven analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$29.83.

Several research firms have recently commented on K. Canaccord Genuity Group lifted their price target on shares of Kinross Gold from C$29.50 to C$37.00 in a research report on Thursday, October 2nd. Raymond James Financial upgraded Kinross Gold to a “hold” rating in a research report on Monday, June 30th. National Bankshares upped their price target on Kinross Gold from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, UBS Group raised Kinross Gold to a “strong-buy” rating in a research report on Monday, August 4th.

Kinross Gold Price Performance

Shares of K stock opened at C$33.52 on Friday. 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 capitalization of C$40.85 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of -0.60 and a beta of 1.04. The firm’s 50-day moving average is C$32.02 and its two-hundred day moving average is C$25.04. Kinross Gold has a 12 month low of C$12.79 and a 12 month high of C$39.09.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Kinross Gold’s dividend payout ratio (DPR) is 9.68%.

Insider Activity at Kinross Gold

In related news, insider Claude J.S. Schimper sold 2,131 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$27.86, for a total transaction of C$59,369.66. Following the completion of the transaction, the insider owned 35,258 shares of the company’s stock, valued at approximately C$982,287.88. This trade represents a 5.70% decrease in their position. Corporate insiders own 0.26% of the company’s stock.

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.