National Bank Financial Issues Pessimistic Forecast for Kinross Gold (TSE:K) Stock Price

Kinross Gold (TSE:K) (NYSE:KGC) had its price objective lowered by research analysts at National Bank Financial from C$60.00 to C$57.50 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price target suggests a potential upside of 20.09% from the stock’s previous close.

Several other equities analysts have also commented on K. Royal Bank Of Canada upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, March 12th. Stifel Nicolaus increased their price objective on shares of Kinross Gold from C$45.00 to C$65.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$50.88.

Kinross Gold Price Performance

Shares of TSE:K opened at C$47.88 on Friday. The company has a debt-to-equity ratio of 9.08, a quick ratio of 1.11 and a current ratio of 2.35. The firm has a fifty day moving average price of C$44.58 and a 200 day moving average price of C$40.97. Kinross Gold has a fifty-two week low of C$18.53 and a fifty-two week high of C$53.57. The firm has a market cap of C$57.34 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of -0.60 and a beta of 1.48.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Wednesday, February 18th. The company reported C$0.92 EPS for the quarter. Kinross Gold had a net margin of 33.95% and a return on equity of 30.66%. The business had revenue of C$2.68 billion during the quarter. As a group, sell-side analysts expect that Kinross Gold will post 1.0071259 earnings per share for the current fiscal year.

Insider Buying and Selling at Kinross Gold

In other news, insider Afjal Hashim sold 16,980 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of C$37.20, for a total value of C$631,656.00. Following the sale, the insider owned 28,306 shares of the company’s stock, valued at approximately C$1,052,983.20. This represents a 37.50% decrease in their ownership of the stock. Corporate insiders own 0.26% of the company’s stock.

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