Kinross Gold (TSE:K) Shares Up 1.7% - Still a Buy?

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC's stock price shot up 1.7% during mid-day trading on Monday . The company traded as high as C$17.90 and last traded at C$17.04. 1,616,492 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 3,534,163 shares. The stock had previously closed at C$16.75.

Wall Street Analyst Weigh In

K has been the subject of a number of research reports. National Bankshares increased 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. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. Finally, Stifel Canada raised shares of Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Kinross Gold has an average rating of "Buy" and an average target price of C$17.30.

Kinross Gold Stock Performance

The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. The firm has a market cap of C$17.33 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. The company has a 50 day simple moving average of C$16.90 and a 200-day simple moving average of C$15.07.

Kinross Gold Cuts Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.60%. Kinross Gold's dividend payout ratio is currently 18.84%.

Insider Buying and Selling at Kinross Gold

In related news, Director George Vincent Albino purchased 5,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of C$16.07 per share, with a total value of C$80,369.87. Also, Senior Officer Laurence Davies sold 10,000 shares of Kinross Gold stock in a transaction dated Friday, March 14th. The stock was sold at an average price of C$16.58, for a total value of C$165,800.00. In the last ninety days, insiders have sold 349,670 shares of company stock valued at $5,366,186. 0.26% of the stock is currently owned by company insiders.

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.