Kinross Gold (TSE:K) Hits New 12-Month 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 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 traded. The stock had previously closed at C$27.10.

Analysts Set New Price Targets

K has been the subject of several recent analyst reports. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating in a research report on Monday, June 30th. National Bankshares upped their target price on shares of Kinross Gold from C$27.00 to C$28.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Stifel Nicolaus upped 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, UBS Group upgraded shares of Kinross Gold to a "strong-buy" rating in a research report on Monday, August 4th. Four equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$21.25.

Kinross Gold Trading Up 0.9%

The company has a 50 day simple moving average of C$22.80 and a two-hundred day simple moving average of C$20.04. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61. The company has a market cap of C$23.78 billion, a PE ratio of 32.20, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Kinross Gold's dividend payout ratio (DPR) is 18.84%.

Insider Buying and Selling

In other news, Senior Officer Lucas Crosby sold 12,660 shares of the 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 value of C$271,920.34. Also, Senior Officer Geoffrey Peters Gold sold 18,834 shares of the 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 transaction of C$400,599.18. 0.26% of the stock is owned by corporate insiders.

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.

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