Kinross Gold (TSE:K) Reaches New 52-Week High - Should You Buy?

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC's stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$20.46 and last traded at C$20.45, with a volume of 2972211 shares traded. The stock had previously closed at C$20.13.

Wall Street Analysts Forecast Growth

K has been the subject of several recent analyst reports. BMO Capital Markets raised shares of Kinross Gold to a "strong-buy" rating in a research note on Wednesday, April 16th. National Bankshares boosted their price target on shares of Kinross Gold from C$22.00 to C$23.00 and gave the company an "outperform" rating in a research report on Wednesday, April 2nd. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. Finally, Stifel Canada raised Kinross Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of C$17.30.

Kinross Gold Stock Up 2.5 %

The company has a market capitalization of C$18.27 billion, a P/E ratio of 24.73, a PEG ratio of -0.60 and a beta of 1.24. 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 company has a 50 day moving average of C$17.24 and a 200-day moving average of C$15.34.

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 paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.57%. Kinross Gold's payout ratio is 18.84%.

Insiders Place Their Bets

In other Kinross Gold news, Senior Officer Geoffrey Peters Gold sold 99,347 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$15.22, for a total transaction of C$1,512,061.34. Also, Director George Vincent Albino bought 5,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of C$16.07 per share, with a total value of C$80,369.87. Insiders sold 349,670 shares of company stock worth $5,366,186 over the last three months. Company 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.