Kinross Gold (TSE:K) Sets New 52-Week High – Still a Buy?

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high on Thursday . The company traded as high as C$17.71 and last traded at C$17.71, with a volume of 688347 shares changing hands. The stock had previously closed at C$17.48.

Analysts Set New Price Targets

A number of research analysts have weighed in on K shares. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday. National Bankshares upped their price target on shares of Kinross Gold from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$17.10.

Kinross Gold Price Performance

The firm has a 50 day moving average of C$16.00 and a 200-day moving average of C$14.36. The company has a market cap of C$15.29 billion, a P/E ratio of 20.70, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81.

Kinross Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.68%. Kinross Gold’s payout ratio is 18.84%.

Insider Buying and Selling at Kinross Gold

In related news, Senior Officer Laurence Davies sold 10,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of C$16.58, for a total transaction of C$165,800.00. Also, Senior Officer Geoffrey Peters Gold sold 99,347 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$15.22, for a total transaction of C$1,512,061.34. Insiders sold 344,670 shares of company stock valued at $5,276,336 over the last quarter. 0.26% of the stock is currently owned by insiders.

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.