Kinross Gold (TSE:K) Trading Up 5.7% – What’s Next?

by · The Cerbat Gem

Kinross Gold Co. (TSE:K – Get Free Report) (NYSE:KGC)’s share price was up 5.7% during mid-day trading on Wednesday . The company traded as high as C$18.25 and last traded at C$18.00. Approximately 2,285,843 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 3,621,403 shares. The stock had previously closed at C$17.03.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, National Bankshares lifted their price target on shares of Kinross Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Wednesday, April 2nd. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$17.30.

View Our Latest Research Report on K

Kinross Gold Stock Performance

The company has a fifty day moving average price of C$16.90 and a 200 day moving average price of C$15.07. 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 stock has a market cap of C$17.33 billion, a P/E ratio of 23.46, a P/E/G ratio of -0.60 and a beta of 1.24.

Kinross Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.60%. Kinross Gold’s dividend payout ratio is currently 18.84%.

Insider Activity at Kinross Gold

In related news, Senior Officer Claude J.S. Schimper sold 10,000 shares of Kinross Gold stock in a transaction on Monday, March 3rd. The stock was sold at an average price of C$15.63, for a total transaction of C$156,300.00. Also, Senior Officer Geoffrey Peters Gold sold 99,347 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$15.22, for a total value of C$1,512,061.34. Insiders have sold a total of 349,670 shares of company stock valued at $5,366,186 over the last 90 days. Insiders own 0.26% of the company’s stock.

Kinross Gold Company Profile

(Get Free Report)

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.

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