Kinross Gold (TSE:K) Sets New 1-Year High – Should You Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high on Wednesday . The company traded as high as C$20.46 and last traded at C$20.45, with a volume of 2972211 shares. The stock had previously closed at C$20.13.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on K shares. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. National Bankshares increased their target price on Kinross Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research report on Wednesday, April 2nd. Finally, Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$17.30.

Kinross Gold Stock Performance

The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81. The firm has a market capitalization of C$17.78 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. The company has a 50-day moving average of C$17.03 and a 200-day moving average of C$15.18.

Kinross Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.59%. Kinross Gold’s dividend payout ratio is presently 18.84%.

Insider Transactions at Kinross Gold

In other Kinross Gold news, Director George Vincent Albino bought 5,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of C$16.07 per share, for a total transaction of C$80,369.87. Also, Senior Officer Laurence Davies sold 10,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of C$16.58, for a total value of C$165,800.00. In the last 90 days, insiders have sold 349,670 shares of company stock worth $5,366,186. Company 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.