Kinross Gold (TSE:K) Hits New 52-Week High After Dividend Announcement

Key Points

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Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC hit a new 52-week high on Thursday after the company announced a dividend. The stock traded as high as C$22.73 and last traded at C$22.66, with a volume of 1559871 shares. The stock had previously closed at C$21.36.

The newly announced dividend which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Kinross Gold's payout ratio is 18.84%.

Analyst Ratings Changes

K has been the topic of several recent research reports. Raymond James Financial raised Kinross Gold to a "hold" rating in a report on Monday, June 30th. National Bankshares lifted their target price on Kinross Gold from C$27.00 to C$28.00 and gave the stock an "outperform" rating in a report on Friday. Stifel Nicolaus lifted their target price on Kinross Gold from C$23.50 to C$24.50 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets raised Kinross Gold to a "strong-buy" rating in a report on Wednesday, April 16th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$21.25.

Kinross Gold Stock Up 0.8%

The stock has a 50-day simple moving average of C$21.23 and a two-hundred day simple moving average of C$18.92. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81. The firm has a market cap of C$19.43 billion, a PE ratio of 26.31, a P/E/G ratio of -0.60 and a beta of 1.24.

Insider Buying and Selling at Kinross Gold

In other news, Senior Officer Laurence Davies sold 10,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of C$20.13, for a total transaction of C$201,300.00. Also, Senior Officer Geoffrey Peters Gold sold 18,834 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of C$21.27, for a total value of C$400,599.18. Over the last ninety days, insiders have sold 42,833 shares of company stock valued at $901,122. 0.26% of the stock is currently owned by company insiders.

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.