Kinross Gold (TSE:K) Stock Price Up 4.5% – Still a Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares traded up 4.5% during mid-day trading on Thursday . The company traded as high as C$19.22 and last traded at C$19.19. 1,514,080 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 3,647,968 shares. The stock had previously closed at C$18.37.

Analyst Ratings Changes

A number of research analysts have commented on the stock. National Bankshares increased their price objective on shares of Kinross Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Wednesday, April 2nd. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, National Bank Financial raised Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$17.30.

Kinross Gold Stock Up 4.1 %

The stock has a market cap of C$17.33 billion, a P/E ratio of 23.46, a PEG ratio of -0.60 and a beta of 1.24. The stock’s fifty day simple moving average is C$16.90 and its 200-day simple moving average is C$15.07. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11.

Kinross Gold Cuts Dividend

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

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 5,000 shares of Kinross Gold stock in a transaction on 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 Laurence Davies sold 10,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of C$16.58, for a total value of C$165,800.00. Over the last three months, insiders have sold 349,670 shares of company stock worth $5,366,186. 0.26% of the stock is owned by insiders.

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.