Kinross Gold (TSE:K) Given New C$47.50 Price Target at National Bank Financial

Kinross Gold (TSE:K) (NYSE:KGC) had its price target decreased by research analysts at National Bank Financial from C$50.00 to C$47.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 46.88% from the company’s current price.

Other analysts have also recently issued reports about the stock. BMO Capital Markets upped their price target on shares of Kinross Gold from C$45.00 to C$55.00 in a research note on Wednesday, April 22nd. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. ATB Cormark Capital Markets upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$41.00 to C$45.00 in a research report on Friday. Finally, Jefferies Financial Group cut their price target on Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$47.36.

Kinross Gold Stock Performance

K traded down C$0.75 during trading hours on Friday, hitting C$32.34. The stock had a trading volume of 1,258,675 shares, compared to its average volume of 3,756,725. Kinross Gold has a 1 year low of C$21.87 and a 1 year high of C$53.57. The company’s fifty day simple moving average is C$35.67 and its 200 day simple moving average is C$41.44. The stock has a market cap of C$38.62 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of -0.60 and a beta of 1.49. The company has a quick ratio of 1.11, a current ratio of 2.84 and a debt-to-equity ratio of 8.12.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. The business had revenue of C$3.18 billion for the quarter. Kinross Gold had a net margin of 36.03% and a return on equity of 34.63%. Equities analysts anticipate that Kinross Gold will post 1.0071259 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Stephen Kerrigan sold 791 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was 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 owned 84,936 shares of the company’s stock, valued at approximately C$3,322,696.32. The trade was a 0.92% decrease in their ownership of the stock. Also, insider Lucas Crosby sold 791 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was 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 owned 33,988 shares in the company, valued at approximately C$1,329,610.56. This trade represents a 2.27% decrease in their ownership of the stock. Insiders have sold 38,582 shares of company stock worth $1,572,318 in the last ninety days. 0.26% of the stock is currently owned by insiders.

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.