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

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC's share price reached a new 52-week high on Monday . The stock traded as high as C$22.13 and last traded at C$22.04, with a volume of 1846641 shares changing hands. The stock had previously closed at C$21.01.

Analysts Set New Price Targets

A number of brokerages recently commented on K. BMO Capital Markets upgraded shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, April 16th. National Bankshares lifted their target price on shares of Kinross Gold from C$25.00 to C$26.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Stifel Nicolaus lifted their target price on shares of Kinross Gold from C$23.50 to C$24.50 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating in a research report on Monday, June 30th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$20.75.

Kinross Gold Trading Down 1.7%

The firm's 50 day moving average price is C$20.97 and its 200-day moving average price is C$18.63. The stock has a market cap of C$18.79 billion, a P/E ratio of 25.44, 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.56%. Kinross Gold's payout ratio is 18.84%.

Insider Activity

In other Kinross Gold news, Senior Officer Lucas Crosby sold 12,660 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of C$21.48, for a total transaction of C$271,920.34. Also, Senior Officer Laurence Davies sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of C$20.13, for a total transaction of C$201,300.00. Insiders sold 42,833 shares of company stock valued at $901,122 over the last three months. Corporate insiders own 0.26% of the company's stock.

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.