Kinross Gold (TSE:K) Hits New 1-Year High – Here’s Why

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$15.53 and last traded at C$15.46, with a volume of 1215621 shares. The stock had previously closed at C$15.29.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on K. National Bankshares raised their price objective on Kinross Gold from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus lifted their price objective on Kinross Gold from C$14.50 to C$18.00 in a research note on Monday, October 21st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$16.70.

Kinross Gold Trading Up 3.5 %

The stock has a market cap of C$20.43 billion, a P/E ratio of 30.76, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27. The stock’s fifty day moving average is C$14.29 and its 200 day moving average is C$13.38.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.25 by C$0.08. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. During the same period last year, the business posted $0.16 earnings per share. As a group, equities research analysts predict that Kinross Gold Co. will post 1.0071259 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were paid a $0.041 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Thursday, November 28th. Kinross Gold’s dividend payout ratio is currently 29.63%.

Insider Transactions at Kinross Gold

In related news, Director George Nickolas Paspalas bought 5,000 shares of the stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of C$13.79 per share, with a total value of C$68,950.00. Also, Senior Officer Claude J.S. Schimper sold 7,122 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$13.91, for a total transaction of C$99,067.02. In the last quarter, insiders sold 1,608,122 shares of company stock worth $22,536,883. 0.26% of the stock is currently owned by 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.