Kinross Gold (TSE:K) Stock Gets Price Target Reduction from National Bank Financial

Kinross Gold (TSE:K) (NYSE:KGC) had its price target decreased by National Bank Financial from C$45.00 to C$42.50 in a research report sent to investors on Tuesday,BayStreet reports. National Bank Financial currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on K. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$41.00 to C$45.00 in a research note on Friday, July 31st. Desjardins reduced their target price on shares of Kinross Gold from C$58.00 to C$53.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. BMO Capital Markets decreased their price target on shares of Kinross Gold from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Finally, Jefferies Financial Group decreased their price target on shares of Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$48.58.

Kinross Gold Stock Down 5.1%

Shares of TSE:K opened at C$31.73 on Tuesday. The company has a debt-to-equity ratio of 7.65, a current ratio of 2.89 and a quick ratio of 1.11. The firm has a market capitalization of C$37.89 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of -0.60 and a beta of 1.75. The firm’s 50-day moving average is C$38.18 and its two-hundred day moving average is C$38.28. Kinross Gold has a 1 year low of C$31.06 and a 1 year high of C$53.57.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. Kinross Gold had a net margin of 37.56% and a return on equity of 35.91%. The business had revenue of C$3.18 billion for the quarter. Analysts predict that Kinross Gold will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other news, insider Laurence Davies sold 1,335 shares of Kinross Gold stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total value of C$51,370.80. Following the completion of the transaction, the insider owned 11,855 shares in the company, valued at approximately C$456,180.40. This trade represents a 10.12% decrease in their position. Also, insider Daniel Fombonne sold 2,003 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total value of C$77,075.44. Following the transaction, the insider directly owned 16,155 shares of the company’s stock, valued at approximately C$621,644.40. This represents a 11.03% decrease in their ownership of the stock. Insiders have sold a total of 33,338 shares of company stock worth $1,351,546 in the last quarter. 0.26% of the stock is owned by company insiders.

Kinross Gold Company Profile

Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).