Kinross Gold (TSE:K) Hits New 12-Month High – Time to Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high on Tuesday . The stock traded as high as C$15.52 and last traded at C$15.34, with a volume of 1189808 shares. The stock had previously closed at C$15.10.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on K shares. National Bankshares lifted their price objective on Kinross Gold from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their price target on shares of Kinross Gold from C$14.50 to C$18.00 in a report on Monday, October 21st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$16.70.

Kinross Gold Stock Performance

The firm has a 50 day moving average of C$14.07 and a two-hundred day moving average of C$13.23. The company has a debt-to-equity ratio of 31.89, a current ratio of 1.27 and a quick ratio of 1.11. The stock has a market cap of C$18.60 billion, a PE ratio of 28.00, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported C$0.33 earnings per share for the quarter, topping the consensus estimate of C$0.25 by C$0.08. Kinross Gold had a net margin of 10.91% and a return on equity of 7.81%. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Research analysts predict that Kinross Gold Co. will post 1.0071259 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were issued a dividend of $0.041 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, November 28th. Kinross Gold’s payout ratio is 29.63%.

Insider Transactions at Kinross Gold

In other Kinross Gold news, Director George Nickolas Paspalas acquired 5,000 shares of the stock in a transaction on Monday, December 16th. The shares were bought at an average cost of C$13.79 per share, with a total value of C$68,950.00. Also, Senior Officer Geoffrey Peters Gold sold 100,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$14.22, for a total transaction of C$1,421,710.00. Over the last 90 days, insiders have sold 1,608,122 shares of company stock worth $22,536,883. Corporate 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.