Kinross Gold (TSE:K) Stock Price Crosses Above 200 Day Moving Average of $8.68

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.68 and traded as high as C$11.33. Kinross Gold shares last traded at C$11.33, with a volume of 447,378 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on K. Canaccord Genuity Group raised their price objective on Kinross Gold from C$12.50 to C$13.50 and gave the company a “buy” rating in a report on Thursday, May 16th. Cormark raised Kinross Gold from a “market perform” rating to a “buy” rating and raised their target price for the stock from C$11.00 to C$13.00 in a research report on Thursday, May 9th. Eight Capital increased their price target on Kinross Gold from C$10.00 to C$11.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Stifel Nicolaus upped 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 research note on Friday, April 19th. Finally, National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$11.88.

Kinross Gold Trading Up 0.4 %

The firm has a market cap of C$13.94 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of -0.60 and a beta of 1.19. The firm’s 50-day moving average is C$10.45 and its 200-day moving average is C$8.68. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 36.08.

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

Kinross Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a $0.03 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.06%. Kinross Gold’s dividend payout ratio (DPR) is presently 32.65%.

Insiders Place Their Bets

In other Kinross Gold news, Senior Officer William D. Dunford sold 6,076 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of C$10.76, for a total value of C$65,377.76. In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 30,000 shares of Kinross Gold stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of C$10.39, for a total transaction of C$311,709.00. Also, Senior Officer William D. Dunford sold 6,076 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of C$10.76, for a total transaction of C$65,377.76. Over the last 90 days, insiders have sold 643,076 shares of company stock valued at $6,954,397. 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.