Kinross Gold (TSE:K) Hits New 1-Year High – Here’s What Happened

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high on Friday . The company traded as high as C$13.84 and last traded at C$13.73, with a volume of 147473 shares changing hands. The stock had previously closed at C$13.56.

Analyst Ratings Changes

Several research firms have recently issued reports on K. Canaccord Genuity Group decreased their price objective on Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating on the stock in a report on Friday, September 13th. Eight Capital lifted their target price on Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, National Bankshares raised their price objective on shares of Kinross Gold from C$13.75 to C$16.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$14.60.

Kinross Gold Stock Performance

The company has a current ratio of 1.27, a quick ratio of 1.11 and a debt-to-equity ratio of 31.89. The stock’s 50 day moving average is C$12.41 and its two-hundred day moving average is C$10.99. The stock has a market capitalization of C$16.68 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Wednesday, July 31st. The company reported C$0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. The firm had revenue of C$1.67 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. Analysts expect that Kinross Gold Co. will post 1.0071259 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a $0.041 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.21%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s payout ratio is presently 29.63%.

Insider Buying and Selling

In related news, Senior Officer David C. Shaver sold 4,663 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$13.17, for a total transaction of C$61,411.71. In other news, Senior Officer Laurence Davies sold 12,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$13.05, for a total transaction of C$156,600.00. Also, Senior Officer David C. Shaver sold 4,663 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$13.17, for a total value of C$61,411.71. In the last 90 days, insiders have sold 21,163 shares of company stock valued at $273,407. Company insiders own 0.26% of the company’s stock.

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.