ATB Cormark Capital Markets upgraded shares of Kinross Gold (TSE:K – Free Report) (NYSE:KGC) from a sector perform rating to an outperform rating in a research report sent to investors on Friday,BayStreet.CA reports. ATB Cormark Capital Markets currently has C$45.00 price target on the stock, up from their prior price target of C$41.00.
Other equities analysts have also issued reports about the stock. National Bank Financial decreased their price target on shares of Kinross Gold from C$57.50 to C$50.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 14th. BMO Capital Markets raised their price target on shares of Kinross Gold from C$45.00 to C$55.00 in a report on Wednesday, April 22nd. 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, Jefferies Financial Group reduced their price objective on Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$47.36.
Get Our Latest Analysis on Kinross Gold
Kinross Gold Stock Down 2.3%
Kinross Gold (TSE:K – Get Free Report) (NYSE:KGC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share for the quarter. Kinross Gold had a net margin of 37.56% and a return on equity of 35.91%. The firm had revenue of C$3.18 billion during the quarter. On average, research analysts expect that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Lucas Crosby sold 791 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$39.12, for a total transaction of C$30,943.92. Following the completion of the sale, the insider directly owned 33,988 shares of the company’s stock, valued at C$1,329,610.56. The trade was a 2.27% decrease in their ownership of the stock. Also, insider Claude J.S. Schimper sold 15,000 shares of the stock in a transaction that occurred on Monday, May 25th. The shares were sold at an average price of C$40.33, for a total transaction of C$604,950.00. Following the completion of the transaction, the insider owned 49,060 shares in the company, valued at C$1,978,589.80. This represents a 23.42% decrease in their ownership of the stock. In the last quarter, insiders have sold 38,582 shares of company stock valued at $1,572,318. 0.26% of the stock is currently 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. The company has historically used acquisitions to fuel expansion into new regions and production growth.
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