Canaccord Genuity Group Issues Positive Forecast for Kinross Gold (TSE:K) Stock Price

Kinross Gold (TSE:K) (NYSE:KGC) had its price objective upped by Canaccord Genuity Group from C$29.50 to C$37.00 in a research note issued to investors on Thursday,BayStreet.CA reports.

Other research analysts have also issued reports about the stock. Raymond James Financial upgraded shares of Kinross Gold to a “hold” rating in a research note on Monday, June 30th. National Bankshares increased their price target on shares of Kinross Gold from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Finally, UBS Group raised shares of Kinross Gold to a “strong-buy” rating in a report on Monday, August 4th. Four equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$29.83.

Kinross Gold Stock Performance

TSE:K opened at C$34.79 on Thursday. Kinross Gold has a 1 year low of C$12.59 and a 1 year high of C$35.98. The firm’s fifty day simple moving average is C$28.62 and its 200 day simple moving average is C$23.02. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81. The firm has a market capitalization of C$42.40 billion, a PE ratio of 28.06, a PEG ratio of -0.60 and a beta of 0.67.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. Kinross Gold’s payout ratio is presently 9.68%.

Insider Buying and Selling

In other Kinross Gold news, insider Claude J.S. Schimper sold 2,131 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$27.86, for a total value of C$59,369.66. Following the completion of the sale, the insider owned 35,258 shares of the company’s stock, valued at approximately C$982,287.88. This represents a 5.70% decrease in their ownership of the stock. Insiders own 0.26% of the company’s stock.

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.