Kinross Gold (TSE:K) Sets New 1-Year High – What’s Next?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as C$17.96 and last traded at C$17.55, with a volume of 3078366 shares trading hands. The stock had previously closed at C$17.46.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, National Bankshares lifted their price target on shares of Kinross Gold from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Buy” and a consensus target price of C$17.10.

Kinross Gold Stock Up 0.5 %

The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81. The company has a market capitalization of C$15.26 billion, a PE ratio of 20.66, a PEG ratio of -0.60 and a beta of 1.24. The business has a fifty day moving average of C$16.20 and a 200 day moving average of C$14.51.

Kinross Gold Cuts Dividend

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

Insiders Place Their Bets

In other news, Senior Officer Laurence Davies sold 10,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of C$16.58, for a total transaction of C$165,800.00. Also, Senior Officer Claude J.S. Schimper sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of C$15.86, for a total transaction of C$317,156.00. Insiders have sold a total of 344,670 shares of company stock worth $5,276,336 in the last ninety days. 0.26% of the stock is owned by corporate 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.