Insider Selling: Kinross Gold (TSE:K) Insider Sells 10,000 Shares of Stock

Kinross Gold Co. (TSE:K) (NYSE:KGC) insider Claude J.S. Schimper sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of C$41.96, for a total transaction of C$419,600.00. Following the completion of the transaction, the insider directly owned 64,060 shares in the company, valued at approximately C$2,687,957.60. The trade was a 13.50% decrease in their position.

Kinross Gold Price Performance

TSE:K traded up C$0.40 during trading hours on Monday, hitting C$43.53. 1,314,138 shares of the company’s stock traded hands, compared to its average volume of 4,016,446. Kinross Gold Co. has a 52 week low of C$18.53 and a 52 week high of C$53.57. The business’s fifty day simple moving average is C$43.67 and its two-hundred day simple moving average is C$41.64. The company has a quick ratio of 1.11, a current ratio of 2.84 and a debt-to-equity ratio of 8.12. The firm has a market cap of C$51.98 billion, a P/E ratio of 18.52, a P/E/G ratio of -0.60 and a beta of 1.47.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings results on Wednesday, April 29th. The company reported C$0.99 earnings per share for the quarter. Kinross Gold had a return on equity of 34.63% and a net margin of 36.03%.The firm had revenue of C$3.35 billion for the quarter. On average, research analysts anticipate that Kinross Gold Co. will post 1.0071259 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on K shares. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and set a C$56.00 price target for the company in a research note on Friday, May 1st. National Bank Financial lowered their price objective on shares of Kinross Gold from C$60.00 to C$57.50 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Stifel Nicolaus lifted their price objective on shares of Kinross Gold from C$45.00 to C$65.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Royal Bank Of Canada raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, March 12th. Finally, BMO Capital Markets raised their price target on Kinross Gold from C$45.00 to C$55.00 in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and an average price target of C$52.42.

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.