Kinross Gold (TSE:K) Sets New 52-Week High – Should You Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$17.71 and last traded at C$17.71, with a volume of 688347 shares traded. The stock had previously closed at C$17.48.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on K shares. National Bankshares upped their price objective on shares of Kinross Gold from C$20.00 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$17.10.

Kinross Gold Stock Performance

The company has a market cap of C$15.18 billion, a P/E ratio of 20.55, a PEG ratio of -0.60 and a beta of 1.24. The stock’s 50-day moving average price is C$16.09 and its 200-day moving average price is C$14.44. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.69%. Kinross Gold’s dividend payout ratio is presently 18.84%.

Insider Activity

In other news, Senior Officer Laurence Davies sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of C$16.58, for a total value of C$165,800.00. Also, Director Jonathan Paul Rollinson sold 205,318 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of C$15.22, for a total transaction of C$3,124,939.96. Over the last ninety days, insiders sold 344,670 shares of company stock worth $5,276,336. 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.