Kinross Gold (TSE:K) Price Target Raised to C$24.50

Kinross Gold (TSE:K) (NYSE:KGC) had its target price hoisted by Stifel Nicolaus from C$23.50 to C$24.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. National Bankshares increased their price objective 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. Finally, BMO Capital Markets raised shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$20.00.

Kinross Gold Stock Performance

Shares of TSE K opened at C$20.99 on Wednesday. The company has a market capitalization of C$18.25 billion, a PE ratio of 24.71, a price-to-earnings-growth 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. The company’s fifty day moving average price is C$18.56 and its 200 day moving average price is C$16.03. Kinross Gold has a 1 year low of C$9.91 and a 1 year high of C$22.01.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.57%. Kinross Gold’s dividend payout ratio (DPR) is currently 18.84%.

Insider Transactions at Kinross Gold

In related news, Senior Officer Geoffrey Peters Gold sold 99,347 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$15.22, for a total transaction of C$1,512,061.34. Also, Senior Officer Claude J.S. Schimper sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of C$17.97, for a total value of C$89,850.00. Insiders have sold a total of 349,670 shares of company stock worth $5,366,186 in the last quarter. Company 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.