Kinross Gold (TSE:K) Shares Up 4.5% – Should You Buy?

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) shot up 4.5% on Thursday . The stock traded as high as C$19.22 and last traded at C$19.19. 1,514,080 shares were traded during 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

K has been the subject of several research analyst reports. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, National Bankshares boosted their price objective on 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. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$17.30.

Kinross Gold Trading Up 3.8 %

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 business’s fifty day moving average is C$16.78 and its 200 day moving average is C$15.01. The stock has a market cap of C$16.58 billion, a PE ratio of 22.45, a P/E/G ratio of -0.60 and a beta of 1.24.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.63%. Kinross Gold’s payout ratio is currently 18.84%.

Insider Transactions at Kinross Gold

In other Kinross Gold news, Director George Vincent Albino purchased 5,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of C$16.07 per share, for a total transaction of C$80,369.87. Also, Director Jonathan Paul Rollinson sold 205,318 shares of Kinross Gold stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$15.22, for a total value of C$3,124,939.96. Insiders sold a total of 349,670 shares of company stock valued at $5,366,186 in the last ninety days. Corporate 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.