Kinross Gold (TSE:K) Reaches New 52-Week High After Analyst Upgrade

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high on Friday after Stifel Nicolaus raised their price target on the stock from C$9.00 to C$11.50. Stifel Nicolaus currently has a buy rating on the stock. Kinross Gold traded as high as C$9.37 and last traded at C$9.33, with a volume of 3113277 shares traded. The stock had previously closed at C$8.97.

Separately, National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$9.88.

Insider Activity

In related news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the transaction, the insider now directly owns 3 shares of the company’s stock, valued at approximately C$20.10. In related news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the transaction, the insider now directly owns 3 shares of the company’s stock, valued at approximately C$20.10. Also, Senior Officer Nathan M. Longenecker sold 22,521 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$5.17, for a total value of C$116,433.57. Insiders have sold 143,621 shares of company stock valued at $893,873 in the last ninety days. 0.26% of the stock is owned by company insiders.

Kinross Gold Price Performance

The company has a current ratio of 2.63, a quick ratio of 1.11 and a debt-to-equity ratio of 36.54. The business has a fifty day simple moving average of C$7.70 and a 200 day simple moving average of C$7.57. The stock has a market capitalization of C$11.45 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of -0.60 and a beta of 1.21.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Wednesday, February 14th. The company reported C$0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.12 by C$0.03. The company had revenue of C$1.52 billion during the quarter, compared to analyst estimates of C$1.24 billion. Kinross Gold had a return on equity of 6.88% and a net margin of 9.82%. On average, analysts expect that Kinross Gold Co. will post 0.4605193 earnings per share for the current year.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is presently 34.78%.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.