Kinross Gold (TSE:K) Shares Down 10.1%

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price dropped 10.1% on Thursday . The company traded as low as C$5.69 and last traded at C$5.71, approximately 1,502,744 shares traded hands during mid-day trading. A decline of 61% from the average daily volume of 3,853,017 shares. The stock had previously closed at C$6.35.

K has been the topic of a number of research reports. Eight Capital raised their target price on shares of Kinross Gold from C$5.25 to C$7.50 in a research note on Thursday, August 8th. Canaccord Genuity raised their target price on shares of Kinross Gold from C$7.25 to C$8.00 in a research note on Tuesday, August 6th. CIBC raised their target price on shares of Kinross Gold from C$5.50 to C$6.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. National Bank Financial raised their target price on shares of Kinross Gold from C$9.25 to C$9.50 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Beacon Securities reissued a “buy” rating on shares of Kinross Gold in a research note on Tuesday, October 8th.

The company has a debt-to-equity ratio of 41.13, a quick ratio of 1.07 and a current ratio of 2.88. The stock’s 50 day simple moving average is C$6.32 and its two-hundred day simple moving average is C$5.57. The firm has a market capitalization of $7.99 billion and a PE ratio of -116.35.

In other news, Senior Officer Paul Botond Stilicho Tomory sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$6.79, for a total transaction of C$135,700.00. Following the completion of the sale, the insider now owns 123,807 shares in the company, valued at approximately C$840,030.50. Also, Senior Officer John Lewis Sims sold 5,589 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$6.76, for a total transaction of C$37,781.64. Following the sale, the insider now owns 20,606 shares of the company’s stock, valued at approximately C$139,296.56.

About Kinross Gold (TSE:K)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.

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