Kinross Gold (TSE:K) Upgraded by Freedom Capital to Strong-Buy Rating

Freedom Capital upgraded shares of Kinross Gold (TSE:K) (NYSE:KGC) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on K. Stifel Nicolaus lifted their target price on 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. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating and set a C$56.00 target price on the stock in a research report on Friday, May 1st. Royal Bank Of Canada upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, March 12th. BMO Capital Markets lifted their target price on Kinross Gold from C$45.00 to C$55.00 in a research report on Wednesday, April 22nd. Finally, National Bank Financial decreased their target price on Kinross Gold from C$60.00 to C$57.50 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and a consensus target price of C$52.42.

Kinross Gold Stock Performance

K opened at C$39.03 on Monday. The business’s fifty day moving average is C$42.79 and its 200-day moving average is C$42.07. The firm has a market cap of C$46.61 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of -0.60 and a beta of 1.47. The company has a debt-to-equity ratio of 8.12, a quick ratio of 1.11 and a current ratio of 2.84. Kinross Gold has a 52-week low of C$18.59 and a 52-week high of C$53.57.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Wednesday, April 29th. The company reported C$0.99 earnings per share (EPS) for the quarter. Kinross Gold had a return on equity of 34.63% and a net margin of 36.03%.The firm had revenue of C$3.35 billion for the quarter. Sell-side analysts expect that Kinross Gold will post 1.0071259 EPS for the current fiscal year.

Insider Transactions at Kinross Gold

In other news, insider Afjal Hashim sold 16,980 shares of Kinross Gold stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of C$37.20, for a total transaction 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. Also, insider Claude J.S. Schimper sold 10,000 shares of Kinross Gold stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of C$41.96, for a total value of C$419,600.00. Following the sale, the insider directly owned 64,060 shares in the company, valued at C$2,687,957.60. The trade was a 13.50% decrease in their ownership of the stock. Company 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. The company has historically used acquisitions to fuel expansion into new regions and production growth.