Kinross Gold (TSE:K) Shares Pass Above 200 Day Moving Average – Here’s Why

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$30.40 and traded as high as C$39.27. Kinross Gold shares last traded at C$38.62, with a volume of 5,565,506 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on K. National Bankshares lifted their price target on shares of Kinross Gold from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Desjardins set a C$44.00 target price on shares of Kinross Gold and gave the company a “buy” rating in a research note on Friday, November 28th. Canaccord Genuity Group lifted their target price on shares of Kinross Gold from C$29.50 to C$37.00 in a report on Thursday, October 2nd. Finally, Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$38.88.

Kinross Gold Trading Down 3.6%

The business’s 50-day moving average price is C$36.38 and its two-hundred day moving average price is C$30.40. The company has a market capitalization of C$46.62 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.44 EPS for the quarter. Kinross Gold had a net margin of 15.23% and a return on equity of 11.72%. The business had revenue of C$2.51 billion during the quarter. Research analysts predict that Kinross Gold Co. will post 1.0071259 earnings per share for the current year.

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.