Kinross Gold (TSE:K) Trading Down 4.9% – What’s Next?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price dropped 4.9% during trading on Thursday . The company traded as low as C$16.37 and last traded at C$16.53. Approximately 993,867 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 2,958,710 shares. The stock had previously closed at C$17.39.

Wall Street Analysts Forecast Growth

K has been the topic of several research reports. Stifel Nicolaus lifted their price target on shares of Kinross Gold from C$14.50 to C$18.00 in a research note on Monday, October 21st. National Bankshares boosted their price target on shares of Kinross Gold from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Tuesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$17.10.

Kinross Gold Price Performance

The firm’s fifty day moving average price is C$14.84 and its 200-day moving average price is C$13.67. The company has a quick ratio of 1.11, a current ratio of 1.27 and a debt-to-equity ratio of 31.89. The stock has a market cap of C$20.06 billion, a P/E ratio of 30.20, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.74%. Kinross Gold’s dividend payout ratio (DPR) is 29.63%.

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, Director George Nickolas Paspalas acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of C$13.79 per share, with a total value of C$68,950.00. Also, Senior Officer Geoffrey Peters Gold sold 100,000 shares of Kinross Gold stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of C$14.22, for a total transaction of C$1,421,710.00. Insiders sold 1,408,122 shares of company stock valued at $19,734,883 in the last 90 days. 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.