Kinross Gold (TSE:K) Hits New 52-Week High – Here’s What Happened

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares reached a new 52-week high on Monday . The stock traded as high as C$40.96 and last traded at C$40.03, with a volume of 876908 shares changing hands. The stock had previously closed at C$39.42.

Wall Street Analyst Weigh In

Several research firms have weighed in on K. Desjardins set a C$44.00 price target on shares of Kinross Gold and gave the stock a “buy” rating in a research report on Friday, November 28th. Canaccord Genuity Group upped their target price on shares of Kinross Gold from C$29.50 to C$37.00 in a research report on Thursday, October 2nd. National Bankshares lifted their price objective on shares of Kinross Gold from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Finally, Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$38.88.

Kinross Gold Stock Up 1.9%

The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81. The firm has a fifty day simple moving average of C$35.95 and a 200-day simple moving average of C$29.59. The company has a market capitalization of C$48.50 billion, a P/E ratio of 28.10, a P/E/G ratio of -0.60 and a beta of 1.24.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its earnings results on Tuesday, November 4th. The company reported C$0.44 earnings per share for the quarter. Kinross Gold had a net margin of 15.23% and a return on equity of 11.72%. The firm had revenue of C$2.51 billion during the quarter. On average, equities research analysts expect that Kinross Gold Co. will post 1.0071259 EPS for the current fiscal year.

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.