Kinross Gold (TSE:K) Sets New 52-Week High – What’s Next?

Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high on Tuesday . The stock traded as high as C$15.52 and last traded at C$15.34, with a volume of 1189808 shares. The stock had previously closed at C$15.10.

Analyst Ratings Changes

K has been the topic of a number of research analyst reports. National Bankshares upped their target price on shares of Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their price objective on Kinross Gold from C$14.50 to C$18.00 in a research note on Monday, October 21st. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$16.70.

Kinross Gold Stock Performance

The stock has a market capitalization of C$18.60 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a current ratio of 1.27, a quick ratio of 1.11 and a debt-to-equity ratio of 31.89. The firm has a 50-day moving average of C$14.07 and a 200-day moving average of C$13.23.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Tuesday, November 5th. The company reported C$0.33 EPS for the quarter, beating analysts’ consensus estimates 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 company earned $0.16 EPS. As a group, sell-side analysts predict that Kinross Gold Co. will post 1.0071259 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were issued a dividend of $0.041 per share. This represents a $0.16 annualized dividend and a yield of 1.08%. The ex-dividend date was Thursday, November 28th. Kinross Gold’s dividend payout ratio (DPR) is 29.63%.

Insiders Place Their Bets

In related news, Director Jonathan Paul Rollinson sold 1,300,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$14.00, for a total value of C$18,200,000.00. Also, Director George Nickolas Paspalas acquired 5,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of C$13.79 per share, with a total value of C$68,950.00. In the last 90 days, insiders have sold 1,608,122 shares of company stock worth $22,536,883. 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.