Kinross Gold (TSE:K) Posts Quarterly Earnings Results

Kinross Gold (TSE:K) (NYSE:KGC) issued its earnings results on Wednesday. The company reported C$1.01 earnings per share for the quarter, FiscalAI reports. Kinross Gold had a net margin of 36.03% and a return on equity of 34.63%. The business had revenue of C$3.18 billion for the quarter.

Kinross Gold Stock Performance

TSE K opened at C$33.09 on Friday. The firm has a 50-day moving average of C$35.67 and a 200-day moving average of C$41.44. The company has a debt-to-equity ratio of 8.12, a quick ratio of 1.11 and a current ratio of 2.84. The stock has a market cap of C$39.51 billion, a PE ratio of 14.08, a P/E/G ratio of -0.60 and a beta of 1.49. Kinross Gold has a 52-week low of C$21.87 and a 52-week high of C$53.57.

Insider Buying and Selling

In related news, insider Lucas Crosby sold 791 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of C$39.12, for a total value of C$30,943.92. Following the transaction, the insider owned 33,988 shares in the company, valued at approximately C$1,329,610.56. This represents a 2.27% decrease in their position. Also, insider Stephen Kerrigan sold 791 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of C$39.12, for a total transaction of C$30,943.92. Following the completion of the transaction, the insider directly owned 84,936 shares in the company, valued at approximately C$3,322,696.32. This represents a 0.92% decrease in their ownership of the stock. In the last 90 days, insiders sold 38,582 shares of company stock valued at $1,572,318. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Jefferies Financial Group dropped their target price on shares of Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and set a C$56.00 target price for the company in a research note on Friday, May 1st. BMO Capital Markets lifted their price target on Kinross Gold from C$45.00 to C$55.00 in a report on Wednesday, April 22nd. Finally, National Bank Financial lowered their price target on Kinross Gold from C$57.50 to C$50.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$49.29.

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.