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

Kinross Gold Co. (TSE:K) (NYSE:KGC) has earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$18.40.

A number of analysts have recently weighed in on the company. BMO Capital Markets raised Kinross Gold to a “strong-buy” rating in a research report on Wednesday, April 16th. Stifel Nicolaus boosted their price target on Kinross Gold from C$19.50 to C$23.50 in a research note on Monday, April 21st. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, National Bankshares raised their price target on shares of Kinross Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Wednesday, April 2nd.

Kinross Gold Trading Down 3.4 %

Shares of TSE:K opened at C$19.65 on Friday. The company has a market capitalization of C$17.09 billion, a PE ratio of 23.13, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81. Kinross Gold has a 12-month low of C$8.84 and a 12-month high of C$21.36. The business’s fifty day simple moving average is C$17.96 and its 200-day simple moving average is C$15.77.

Kinross Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.61%. Kinross Gold’s dividend payout ratio is currently 18.84%.

Insider Activity at Kinross Gold

In related news, Director George Vincent Albino acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of C$16.07 per share, for a total transaction of C$80,369.87. Also, Senior Officer Laurence Davies sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of C$16.58, for a total transaction of C$165,800.00. Insiders sold a total of 349,670 shares of company stock valued at $5,366,186 in the last three months. 0.26% of the stock is currently owned by company 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.