Kinross Gold (TSE:K) Shares Down 4.9% – Here’s What Happened

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares traded down 4.9% during mid-day trading on Thursday . The company traded as low as C$16.37 and last traded at C$16.53. 993,867 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 2,958,710 shares. The stock had previously closed at C$17.39.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Stifel Nicolaus upped their target price on shares of Kinross Gold from C$14.50 to C$18.00 in a research note on Monday, October 21st. National Bankshares upped their price objective on shares of Kinross Gold from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Kinross Gold currently has an average rating of “Buy” and a consensus price target of C$17.10.

Kinross Gold Price Performance

The company’s 50 day simple moving average is C$14.93 and its two-hundred day simple moving average is C$13.72. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. The stock has a market capitalization of C$13.90 billion, a P/E ratio of 18.82, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.75%. Kinross Gold’s dividend payout ratio is 18.84%.

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, Director George Nickolas Paspalas bought 5,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of C$13.79 per share, for a total transaction of C$68,950.00. Also, Director Jonathan Paul Rollinson sold 1,300,000 shares of Kinross Gold stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$14.00, for a total transaction of C$18,200,000.00. In the last 90 days, insiders sold 1,408,122 shares of company stock worth $19,734,883. 0.26% of the stock is currently owned by corporate insiders.

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.