Kinross Gold (TSE:K) Trading Up 5.5% - Should You Buy?

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC shares were up 5.5% during mid-day trading on Wednesday . The company traded as high as C$18.25 and last traded at C$17.96. Approximately 1,923,319 shares changed hands during trading, a decline of 47% from the average daily volume of 3,612,579 shares. The stock had previously closed at C$17.03.

Analysts Set New Price Targets

Several brokerages have issued reports on K. Stifel Canada raised Kinross Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. National Bank Financial upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. Finally, National Bankshares lifted their target price on shares of Kinross Gold from C$22.00 to C$23.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 2nd. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Kinross Gold presently has an average rating of "Buy" and a consensus target price of C$17.30.

Kinross Gold Price Performance

The firm's fifty day simple moving average is C$16.90 and its 200-day simple moving average is C$15.08. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81. The firm has a market capitalization of C$17.50 billion, a PE ratio of 23.70, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.60%. Kinross Gold's payout ratio is 18.84%.

Insider Transactions at Kinross Gold

In related news, Senior Officer Laurence Davies sold 10,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of C$16.58, for a total value of C$165,800.00. Also, Senior Officer Claude J.S. Schimper sold 5,000 shares of the firm's stock in a transaction dated 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 ninety days. 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.