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

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.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday. National Bankshares upped their price target on 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$17.10.

Kinross Gold Trading Down 1.0 %

The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. The firm has a market cap of C$15.18 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. The firm’s fifty day moving average is C$16.09 and its 200-day moving average is C$14.44.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.69%. Kinross Gold’s payout ratio is 18.84%.

Insider Buying and Selling

In other news, Senior Officer Laurence Davies sold 10,000 shares of the stock in a transaction dated 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 company’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$1,512,061.34. Insiders sold 344,670 shares of company stock valued at $5,276,336 over the last 90 days. Company insiders own 0.26% of the company’s stock.

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.