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

Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high on Wednesday . The stock traded as high as C$14.98 and last traded at C$14.95, with a volume of 4854960 shares changing hands. The stock had previously closed at C$14.22.

Analyst Ratings Changes

A number of brokerages recently issued reports on K. Canaccord Genuity Group dropped their target price on Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating on the stock in a research report on Friday, September 13th. Stifel Nicolaus lifted their price objective on Kinross Gold from C$14.50 to C$18.00 in a report on Monday, October 21st. Finally, 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 report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$16.70.

Kinross Gold Trading Down 1.8 %

The business has a fifty day simple moving average of C$13.82 and a 200-day simple moving average of C$12.93. The firm has a market cap of C$18.55 billion, a price-to-earnings ratio of 27.93, a PEG ratio of -0.60 and a beta of 1.24. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were given a $0.041 dividend. The ex-dividend date was Thursday, November 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.09%. Kinross Gold’s dividend payout ratio (DPR) is presently 29.63%.

Insider Buying and Selling at Kinross Gold

In related news, Director George Nickolas Paspalas acquired 5,000 shares of the stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of C$13.79 per share, with a total value of C$68,950.00. Also, Director Jonathan Paul Rollinson sold 200,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$14.01, for a total value of C$2,802,000.00. In the last quarter, insiders have sold 1,608,122 shares of company stock worth $22,536,883. 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.