Kinross Gold (TSE:K) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Kinross Gold Co. (TSE:K) (NYSE:KGC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.99 and traded as high as C$20.79. Kinross Gold shares last traded at C$20.28, with a volume of 2,590,790 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on K shares. BMO Capital Markets upgraded shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, April 16th. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Stifel Nicolaus lifted their price objective on Kinross Gold from C$23.50 to C$24.50 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Finally, National Bankshares lifted their price objective on Kinross Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Wednesday, April 2nd. Four research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$20.00.

Kinross Gold Stock Down 1.8%

The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81. The firm has a market cap of C$17.63 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. The stock has a fifty day simple moving average of C$19.90 and a two-hundred day simple moving average of C$16.99.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.59%. Kinross Gold’s payout ratio is presently 18.84%.

Insider Buying and Selling at Kinross Gold

In other news, Senior Officer Claude J.S. Schimper sold 5,000 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of C$17.97, for a total transaction of C$89,850.00. Also, Senior Officer Lucas Crosby sold 12,660 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of C$21.48, for a total value of C$271,920.34. Insiders sold 57,833 shares of company stock valued at $1,156,772 in the last quarter. 0.26% of the stock is currently owned by corporate 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.