Stifel Nicolaus Forecasts Strong Price Appreciation for Kinross Gold (TSE:K) Stock

Kinross Gold (TSE:K) (NYSE:KGC) had its price objective upped by investment analysts at Stifel Nicolaus from C$19.50 to C$23.50 in a research note issued on Monday,BayStreet.CA reports. Stifel Nicolaus’ target price would suggest a potential upside of 14.69% from the stock’s previous close.

Several other equities analysts also recently weighed in on K. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. National Bankshares lifted their price objective on Kinross Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Wednesday, April 2nd. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and a consensus price target of C$18.40.

Kinross Gold Stock Performance

Shares of K traded down C$0.01 on Monday, reaching C$20.49. 1,334,551 shares of the company’s stock traded hands, compared to its average volume of 3,698,773. The stock’s 50 day simple moving average is C$17.24 and its two-hundred day simple moving average is C$15.34. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81. Kinross Gold has a 52-week low of C$8.69 and a 52-week high of C$21.36. The stock has a market cap of C$17.82 billion, a PE ratio of 24.12, a PEG ratio of -0.60 and a beta of 1.24.

Insiders Place Their Bets

In related news, Senior Officer Geoffrey Peters Gold sold 99,347 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$15.22, for a total value of C$1,512,061.34. Also, Director George Vincent Albino purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of C$16.07 per share, for a total transaction of C$80,369.87. Insiders sold a total of 349,670 shares of company stock worth $5,366,186 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

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.