Kinross Gold (TSE:K) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.28 and traded as high as C$20.03. Kinross Gold shares last traded at C$20.00, with a volume of 4,623,948 shares traded.

Analysts Set New Price Targets

K has been the topic of a number of research reports. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. National Bankshares boosted 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 research report on Wednesday, April 2nd. BMO Capital Markets upgraded shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, April 16th. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Stifel Nicolaus increased their price target on Kinross Gold from C$23.50 to C$24.50 and gave the company a “buy” rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and a consensus price target of C$20.00.

Kinross Gold Price Performance

The company’s 50-day simple moving average is C$19.01 and its 200 day simple moving average is C$16.28. The company has a market cap of C$17.39 billion, a PE ratio of 23.54, a PEG ratio of -0.60 and a beta of 1.24. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.60%. Kinross Gold’s dividend payout ratio (DPR) is presently 18.84%.

Insider Buying and Selling

In related news, Senior Officer Geoffrey Peters Gold sold 99,347 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of C$15.22, for a total transaction of C$1,512,061.34. Also, Director George Nickolas Paspalas purchased 2,000 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was bought at an average price of C$19.20 per share, for a total transaction of C$38,400.00. Insiders sold 349,670 shares of company stock valued at $5,366,186 in the last three months. 0.26% of the stock is owned by corporate insiders.

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.