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

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$18.54 and last traded at C$18.37, with a volume of 6328110 shares changing hands. The stock had previously closed at C$17.03.

Analysts Set New Price Targets

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

Kinross Gold Stock Up 4.1 %

The firm’s 50 day moving average is C$16.90 and its 200-day moving average is C$15.07. 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 market cap of C$17.33 billion, a PE ratio of 23.46, a P/E/G ratio of -0.60 and a beta of 1.24.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.60%. Kinross Gold’s dividend payout ratio (DPR) is presently 18.84%.

Insider Buying and Selling

In other news, Senior Officer Geoffrey Peters Gold sold 99,347 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$15.22, for a total value of C$1,512,061.34. Also, Senior Officer Claude J.S. Schimper sold 5,000 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of C$17.97, for a total value of C$89,850.00. Over the last three months, insiders have sold 349,670 shares of company stock valued at $5,366,186. 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.