Kinross Gold (TSE:K) Trading 1.7% Higher – Still a Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price rose 1.7% during trading on Monday . The company traded as high as C$17.90 and last traded at C$17.04. Approximately 1,616,492 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 3,534,163 shares. The stock had previously closed at C$16.75.

Analyst Upgrades and Downgrades

K has been the topic of a number of research analyst reports. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, National Bankshares raised their target price on shares of Kinross Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Wednesday, April 2nd. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$17.30.

Kinross Gold Trading Up 1.7 %

The firm has a fifty day moving average of C$16.66 and a 200 day moving average of C$14.87. The firm has a market capitalization of C$14.82 billion, a PE ratio of 20.06, a P/E/G ratio of -0.60 and a beta of 1.24. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.70%. Kinross Gold’s dividend payout ratio is presently 18.84%.

Insider Activity at Kinross Gold

In related news, Director George Vincent Albino bought 5,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of C$16.07 per share, with a total value of C$80,369.87. Also, Senior Officer Laurence Davies sold 10,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of C$16.58, for a total transaction of C$165,800.00. Over the last 90 days, insiders sold 349,670 shares of company stock valued at $5,366,186. 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.