Kinross Gold (TSE:K) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

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$40.66 and traded as high as C$46.62. Kinross Gold shares last traded at C$46.34, with a volume of 2,350,698 shares changing hands.

Analysts Set New Price Targets

K has been the topic of a number of recent research reports. National Bank Financial raised their price target on shares of Kinross Gold from C$52.50 to C$60.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Stifel Nicolaus raised their price target on shares of Kinross Gold from C$45.00 to C$65.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, Royal Bank Of Canada upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, March 12th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$51.50.

Kinross Gold Trading Down 2.0%

The stock has a market capitalization of C$54.95 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of -0.60 and a beta of 1.48. The company has a current ratio of 2.35, a quick ratio of 1.11 and a debt-to-equity ratio of 9.08. The company has a fifty day moving average of C$44.41 and a two-hundred day moving average of C$40.75.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its earnings results on Wednesday, February 18th. The company reported C$0.92 EPS for the quarter. The firm had revenue of C$2.68 billion for the quarter. Kinross Gold had a net margin of 33.95% and a return on equity of 30.66%. On average, research analysts expect that Kinross Gold Co. will post 1.0071259 EPS for the current year.

Insider Activity

In other news, insider Afjal Hashim sold 16,980 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of C$37.20, for a total value of C$631,656.00. Following the sale, the insider directly owned 28,306 shares of the company’s stock, valued at approximately C$1,052,983.20. This trade 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.