Kinross Gold (TSE:K) Sets New 52-Week Low – Here’s What Happened

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares hit a new 52-week low during mid-day trading on Friday. The stock traded as low as C$30.77 and last traded at C$30.77, with a volume of 419,896 shares. The stock had previously closed at C$31.73.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on K. Jefferies Financial Group cut their target price on shares of Kinross Gold from C$41.00 to C$38.00 in a report on Monday, July 6th. Desjardins decreased their price target on shares of Kinross Gold from C$58.00 to C$53.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. BMO Capital Markets lowered their price objective on shares of Kinross Gold from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating and lifted their price objective for the stock from C$41.00 to C$45.00 in a research note on Friday, July 31st. Finally, National Bank Financial dropped their price objective on shares of Kinross Gold from C$45.00 to C$42.50 and set an “outperform” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$48.58.

Kinross Gold Stock Performance

The company has a debt-to-equity ratio of 7.65, a current ratio of 2.89 and a quick ratio of 1.11. The business has a 50-day simple moving average of C$38.18 and a 200-day simple moving average of C$38.28. The firm has a market capitalization of C$37.36 billion, a PE ratio of 11.90, a P/E/G ratio of -0.60 and a beta of 1.75.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. The business 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%. Equities research analysts expect that Kinross Gold Co. will post 1.01 earnings per share for the current fiscal year.

Insider Activity at Kinross Gold

In related news, insider William D. Dunford sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of C$40.77, for a total value of C$1,223,100.00. Following the completion of the sale, the insider directly owned 27,374 shares in the company, valued at C$1,116,037.98. This trade represents a 52.29% decrease in their ownership of the stock. Also, insider Daniel Fombonne sold 2,003 shares of Kinross Gold stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$38.48, for a total transaction of C$77,075.44. Following the transaction, the insider directly owned 16,155 shares of the company’s stock, valued at C$621,644.40. The trade was a 11.03% decrease in their ownership of the stock. In the last 90 days, insiders have sold 33,338 shares of company stock worth $1,351,546. Company insiders own 0.26% of the company’s stock.

About Kinross Gold

Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).