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

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC reached a new 52-week high during 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 traded. The stock had previously closed at C$17.48.

Analysts Set New Price Targets

Several equities research analysts have weighed in on K shares. National Bankshares raised their price target on Kinross Gold from C$20.00 to C$22.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Kinross Gold presently has an average rating of "Buy" and an average target price of C$17.10.

Kinross Gold Price Performance

The stock has a fifty day moving average of C$16.09 and a 200 day moving average of C$14.47. The stock has a market cap of C$15.14 billion, a price-to-earnings ratio of 20.50, a P/E/G 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.

Kinross Gold Cuts Dividend

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

Remove Ads

Insider Activity at Kinross Gold

In related news, Senior Officer Laurence Davies sold 10,000 shares of Kinross Gold stock in a transaction on Friday, March 14th. The shares were sold at an average price of C$16.58, for a total value of C$165,800.00. Also, Senior Officer Claude J.S. Schimper sold 20,000 shares of Kinross Gold stock in a transaction on Monday, March 10th. The stock was sold at an average price of C$15.86, for a total transaction of C$317,156.00. Insiders sold 344,670 shares of company stock worth $5,276,336 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.