Cormark Downgrades Kinross Gold (TSE:K) to Hold

Kinross Gold (TSE:K) (NYSE:KGC) was downgraded by investment analysts at Cormark from a “moderate buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. National Bankshares boosted their price target on Kinross Gold from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. UBS Group upgraded Kinross Gold to a “strong-buy” rating in a report on Monday, August 4th. Finally, Canaccord Genuity Group raised their price objective on Kinross Gold from C$29.50 to C$37.00 in a report on Thursday, October 2nd. Four investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and an average price target of C$29.83.

Kinross Gold Price Performance

Shares of TSE:K opened at C$33.37 on Wednesday. The company has a market cap of C$40.67 billion, a P/E ratio of 26.91, a P/E/G ratio of -0.60 and a beta of 1.04. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81. Kinross Gold has a 52 week low of C$12.79 and a 52 week high of C$39.09. The business has a fifty day simple moving average of C$32.49 and a 200-day simple moving average of C$25.36.

Insider Activity at Kinross Gold

In other Kinross Gold news, insider Claude J.S. Schimper sold 2,131 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of C$27.86, for a total transaction of C$59,369.66. Following the transaction, the insider owned 35,258 shares in the company, valued at C$982,287.88. The trade was a 5.70% decrease in their ownership of the stock. 0.26% of the stock is currently 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.