Kinross Gold (TSE:K) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$39.52 and traded as high as C$39.68. Kinross Gold shares last traded at C$39.07, with a volume of 3,650,922 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and lifted their price objective for the company from C$41.00 to C$45.00 in a research report on Friday, July 31st. Jefferies Financial Group cut their price objective on shares of Kinross Gold from C$41.00 to C$38.00 in a research report on Monday, July 6th. Finally, National Bank Financial reduced their target price on shares of Kinross Gold from C$50.00 to C$47.50 and set an “outperform” rating for the company in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Buy” and an average price target of C$47.36.

Kinross Gold Price Performance

The company has a quick ratio of 1.11, a current ratio of 2.89 and a debt-to-equity ratio of 7.65. The company has a market cap of C$46.46 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of -0.60 and a beta of 1.68. The company has a fifty day simple moving average of C$38.37 and a two-hundred day simple moving average of C$39.48.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. The firm had revenue of C$3.18 billion during the quarter. Kinross Gold had a return on equity of 35.91% and a net margin of 37.56%. On average, equities research analysts anticipate that Kinross Gold Co. will post 1.0071259 earnings per share for the current fiscal year.

Insider Activity

In other Kinross Gold news, insider Laurence Davies sold 1,335 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 transaction of C$51,370.80. Following the transaction, the insider owned 11,855 shares in the company, valued at C$456,180.40. The trade was a 10.12% decrease in their ownership of the stock. Also, insider William D. Dunford sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of C$40.77, for a total transaction of C$1,223,100.00. Following the completion of the transaction, the insider owned 27,374 shares of the company’s stock, valued at C$1,116,037.98. This trade represents a 52.29% decrease in their ownership of the stock. Insiders sold a total of 33,338 shares of company stock valued at $1,351,546 in the last 90 days. 0.26% of the stock is currently owned by insiders.

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