Kinross Gold (TSE:K) Share Price Passes Above 200-Day Moving Average of $8.42

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$8.42 and traded as high as C$10.39. Kinross Gold shares last traded at C$10.31, with a volume of 2,491,831 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Stifel Nicolaus increased their price objective on shares of Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a report on Friday, April 19th. Eight Capital boosted their target price on Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Cormark upgraded Kinross Gold from a “market perform” rating to a “buy” rating and upped their price target for the company from C$11.00 to C$13.00 in a research report on Thursday, May 9th. Finally, Canaccord Genuity Group lifted their price objective on Kinross Gold from C$12.50 to C$13.50 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$11.88.

Kinross Gold Stock Up 1.5 %

The firm’s fifty day simple moving average is C$9.95 and its two-hundred day simple moving average is C$8.42. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 36.08. The company has a market capitalization of C$12.68 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of -0.60 and a beta of 1.19.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Tuesday, May 7th. The company reported C$0.14 EPS for the quarter, beating analysts’ consensus estimates of C$0.08 by C$0.06. The firm had revenue of C$1.46 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. Kinross Gold had a return on equity of 7.06% and a net margin of 9.86%. Sell-side analysts anticipate that Kinross Gold Co. will post 0.7244147 EPS for the current year.

Kinross Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Thursday, May 30th. Kinross Gold’s payout ratio is 32.65%.

Insider Activity at Kinross Gold

In other news, Senior Officer Claude J.S. Schimper sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of C$11.09, for a total value of C$77,630.00. In other news, Senior Officer Claude J.S. Schimper sold 7,000 shares of Kinross Gold stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$11.09, for a total value of C$77,630.00. Also, Senior Officer Geoffrey Peters Gold sold 600,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of C$10.83, for a total value of C$6,499,680.00. In the last ninety days, insiders have sold 637,000 shares of company stock worth $6,889,019. Company insiders own 0.27% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.