Canaccord Genuity Group Boosts Kinross Gold (TSE:K) Price Target to C$37.00

Kinross Gold (TSE:K) (NYSE:KGC) had its price target hoisted by Canaccord Genuity Group from C$29.50 to C$37.00 in a report published on Thursday morning,BayStreet.CA reports.

Several other research firms have also recently weighed in on K. National Bankshares upped their price target on shares of Kinross Gold from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Friday, August 1st. UBS Group upgraded shares of Kinross Gold to a “strong-buy” rating in a report on Monday, August 4th. Finally, Raymond James Financial upgraded shares of Kinross Gold to a “hold” rating in a report on Monday, June 30th. Four investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$29.83.

Kinross Gold Stock Down 1.9%

Kinross Gold stock opened at C$34.79 on Thursday. The stock has a market capitalization of C$42.40 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of -0.60 and a beta of 0.67. Kinross Gold has a twelve month low of C$12.59 and a twelve month high of C$35.98. 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 company has a 50 day moving average of C$28.62 and a 200-day moving average of C$23.02.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. Kinross Gold’s payout ratio is 9.68%.

Insider Buying and Selling

In related news, insider Claude J.S. Schimper sold 2,131 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$27.86, for a total transaction of C$59,369.66. Following the completion of the transaction, the insider owned 35,258 shares in the company, valued at approximately C$982,287.88. This represents a 5.70% decrease in their ownership of the stock. Insiders own 0.26% of the company’s stock.

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.