Kinross Gold (TSE:K) Reaches New 52-Week High – Here’s Why

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price hit a new 52-week high on Thursday . The stock traded as high as C$18.54 and last traded at C$18.37, with a volume of 6328110 shares changing hands. The stock had previously closed at C$17.03.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. National Bankshares lifted their price objective on Kinross Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Wednesday, April 2nd. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$17.30.

Kinross Gold Trading Up 7.9 %

The firm has a market cap of C$15.97 billion, a P/E ratio of 21.63, a P/E/G ratio of -0.60 and a beta of 1.24. 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 stock has a 50 day simple moving average of C$16.78 and a 200-day simple moving average of C$15.01.

Kinross Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders 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 0.65%. Kinross Gold’s dividend payout ratio is currently 18.84%.

Insider Activity at Kinross Gold

In related news, Senior Officer Geoffrey Peters Gold sold 99,347 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$15.22, for a total transaction of C$1,512,061.34. Also, Senior Officer Claude J.S. Schimper sold 10,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of C$15.63, for a total value of C$156,300.00. Insiders sold a total of 349,670 shares of company stock worth $5,366,186 in the last quarter. 0.26% of the stock is owned by company insiders.

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.