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 Monday . The stock has a 200-day moving average of C$20.51 and traded as high as C$28.80. Kinross Gold shares last traded at C$28.71, with a volume of 6,934,426 shares.

Wall Street Analyst Weigh In

Several research firms have recently commented on K. Raymond James Financial upgraded Kinross Gold to a “hold” rating in a research note on Monday, June 30th. National Bankshares increased their target price on shares of Kinross Gold from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Stifel Nicolaus increased their price objective on shares of Kinross Gold from C$23.50 to C$24.50 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, UBS Group raised Kinross Gold to a “strong-buy” rating in a report on Monday, August 4th. Four investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Kinross Gold presently has an average rating of “Buy” and an average target price of C$21.25.

Kinross Gold Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81. The stock’s 50 day moving average price is C$23.62 and its two-hundred day moving average price is C$20.51. The firm has a market capitalization of C$34.99 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of -0.60 and a beta of 0.54.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.4%. Kinross Gold’s payout ratio is currently 9.68%.

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.