Kinross Gold (TSE:K) Hits New 52-Week High - What's Next?

Key Points

• Kinross Gold reached a new 12-month high of C$27.39, with strong trading volume of over 1.5 million shares.
• Analysts have boosted their price targets for Kinross Gold, with National Bankshares increasing theirs to C$28.00 and UBS Group upgrading to a "strong-buy" rating.
• The company declared a quarterly dividend of $0.03 per share, resulting in an annualized yield of 0.4% and a payout ratio of 18.84%.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC shares reached a new 52-week high during trading on Monday . The stock traded as high as C$27.39 and last traded at C$27.39, with a volume of 1556484 shares changing hands. The stock had previously closed at C$27.10.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on K. Stifel Nicolaus raised their price objective on shares of Kinross Gold from C$23.50 to C$24.50 and gave the company a "buy" rating in a research note on Wednesday, May 7th. National Bankshares raised their price objective on shares of Kinross Gold from C$27.00 to C$28.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Raymond James Financial raised shares of Kinross Gold to a "hold" rating in a research note on Monday, June 30th. Finally, UBS Group raised shares of Kinross Gold to a "strong-buy" rating in a research note on Monday, August 4th. Four analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$21.25.

Kinross Gold Trading Up 3.2%

The stock's 50 day moving average is C$23.48 and its 200-day moving average is C$20.38. 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 company has a market cap of C$34.99 billion, a P/E ratio of 23.15, a PEG ratio of -0.60 and a beta of 0.54.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.4%. Kinross Gold's dividend payout ratio is 9.68%.

Insider Activity at Kinross Gold

In other Kinross Gold news, Senior Officer Geoffrey Peters Gold sold 18,834 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of C$21.27, for a total value of C$400,599.18. Also, Senior Officer Lucas Crosby sold 12,660 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$21.48, for a total value of C$271,920.34. Corporate 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.