Kinross Gold (TSE:K) Hits New 12-Month High – Here’s Why

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

Analyst Upgrades and Downgrades

K has been the subject of several analyst reports. National Bankshares lifted 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 report on Tuesday, February 11th. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$17.10.

Kinross Gold Trading Up 0.6 %

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

Kinross Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.68%. Kinross Gold’s dividend payout ratio (DPR) is currently 18.84%.

Insider Buying and Selling

In other news, Director George Vincent Albino bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of C$16.07 per share, for a total transaction of C$80,369.87. Also, Director Jonathan Paul Rollinson sold 205,318 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of C$15.22, for a total value of C$3,124,939.96. In the last 90 days, insiders sold 344,670 shares of company stock valued at $5,276,336. 0.26% of the stock is owned by insiders.

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.