Kinross Gold (TSE:K) Price Target Raised to C$23.00

Kinross Gold (TSE:K) (NYSE:KGC) had its price target upped by National Bankshares from C$22.00 to C$23.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also commented on K. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Kinross Gold has an average rating of “Buy” and a consensus price target of C$17.30.

Kinross Gold Price Performance

K stock opened at C$16.75 on Wednesday. The company has a market capitalization of C$14.56 billion, a P/E ratio of 19.72, a PEG ratio of -0.60 and a beta of 1.24. The company has a fifty day moving average price of C$16.62 and a 200-day moving average price of C$14.84. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61. Kinross Gold has a 52-week low of C$8.50 and a 52-week high of C$18.45.

Kinross Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.72%. Kinross Gold’s dividend payout ratio (DPR) is presently 18.84%.

Insider Activity at Kinross Gold

In related news, Senior Officer Claude J.S. Schimper sold 10,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of C$15.63, for a total transaction of C$156,300.00. Also, Senior Officer Geoffrey Peters Gold sold 99,347 shares of Kinross Gold stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$15.22, for a total value of C$1,512,061.34. Insiders have sold a total of 349,670 shares of company stock valued at $5,366,186 over the last 90 days. 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.