Kinross Gold (TSE:K) Hits New 12-Month High on Analyst Upgrade

Shares of Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC hit a new 52-week high on Thursday after National Bankshares raised their price target on the stock from C$19.00 to C$20.00. National Bankshares currently has an outperform rating on the stock. Kinross Gold traded as high as C$14.95 and last traded at C$14.68, with a volume of 276442 shares trading hands. The stock had previously closed at C$14.82.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group reduced their price target on Kinross Gold from C$17.00 to C$16.50 and set a "buy" rating for the company in a report on Friday, September 13th. Eight Capital raised their price target on Kinross Gold from C$15.00 to C$16.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Finally, Stifel Nicolaus raised their price target on Kinross Gold from C$14.50 to C$18.00 in a report on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kinross Gold currently has a consensus rating of "Buy" and an average target price of C$16.70.

Insider Buying and Selling

In related news, Senior Officer Laurence Davies sold 12,000 shares of Kinross Gold stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$13.05, for a total transaction of C$156,600.00. In other news, Senior Officer Laurence Davies sold 12,000 shares of the business's stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$13.05, for a total value of C$156,600.00. Also, Senior Officer Claude J.S. Schimper sold 4,500 shares of the business's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total value of C$55,395.00. Over the last ninety days, insiders sold 21,163 shares of company stock valued at $273,407. 0.26% of the stock is owned by insiders.

Kinross Gold Stock Performance

The firm has a market cap of C$18.33 billion, a PE ratio of 27.06, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a debt-to-equity ratio of 31.89, a current ratio of 1.27 and a quick ratio of 1.11. The stock has a 50-day moving average price of C$12.79 and a 200 day moving average price of C$11.38.

Kinross Gold (TSE:K - Get Free Report) NYSE: KGC last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.19 EPS for the quarter, beating analysts' consensus estimates of C$0.18 by C$0.01. The business had revenue of C$1.67 billion during the quarter, compared to the consensus estimate of C$1.39 billion. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. Research analysts forecast that Kinross Gold Co. will post 1.0071259 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.041 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, August 22nd. This is an increase from Kinross Gold's previous quarterly dividend of $0.03. Kinross Gold's payout ratio is 29.63%.

Kinross Gold Company Profile

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.