Kinross Gold (TSE:K) Trading Down 4.9% – Time to Sell?

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) dropped 4.9% during trading on Thursday . The stock traded as low as C$16.37 and last traded at C$16.53. Approximately 993,867 shares were traded during 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 Analyst Weigh In

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

Kinross Gold Trading Down 6.2 %

The company has a market cap of C$20.06 billion, a P/E ratio of 30.20, a P/E/G ratio of -0.60 and a beta of 1.24. The business’s 50-day moving average price is C$14.84 and its 200 day moving average price is C$13.67. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27.

Kinross Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.74%. Kinross Gold’s dividend payout ratio (DPR) is presently 29.63%.

Insider Activity

In other news, Director George Nickolas Paspalas acquired 5,000 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average price of C$13.79 per share, with a total value of C$68,950.00. Also, Director Jonathan Paul Rollinson sold 1,300,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$14.00, for a total value of C$18,200,000.00. Insiders have sold 1,408,122 shares of company stock valued at $19,734,883 over the last ninety days. 0.26% of the stock is currently owned by company 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.