Kinross Gold (TSE:K) Reaches New 1-Year High - Should You Buy?

Key Points

• Kinross Gold (TSE:K) reached a new 52-week high with shares trading at C$34.65, reflecting a strong upward trend in its stock price.
• Analysts have positively reviewed the stock, with four issuing a Strong Buy rating and an average consensus target price of C$26.25.
• The company declared a quarterly dividend of $0.03 per share, translating to an annualized yield of 0.4% and showcasing its commitment to returning value to shareholders.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC hit a new 52-week high on Monday . The stock traded as high as C$34.65 and last traded at C$34.43, with a volume of 643364 shares. The stock had previously closed at C$33.58.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on K. National Bankshares increased their price target on Kinross Gold from C$27.00 to C$28.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Raymond James Financial raised Kinross Gold to a "hold" rating in a research note on Monday, June 30th. Finally, UBS Group raised Kinross Gold to a "strong-buy" rating in a research note on Monday, August 4th. Four investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$26.25.

Kinross Gold Stock Up 1.5%

The stock has a market capitalization of C$41.56 billion, a price-to-earnings ratio of 27.50, a PEG ratio of -0.60 and a beta of 0.67. The business has a fifty day moving average of C$27.60 and a 200 day moving average of C$22.61. 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 company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Kinross Gold's dividend payout ratio (DPR) is 9.68%.

Insider Buying and Selling at Kinross Gold

In other news, insider Claude J.S. Schimper sold 2,131 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of C$27.86, for a total transaction of C$59,369.66. Following the sale, the insider owned 35,258 shares of the company's stock, valued at approximately C$982,287.88. This represents a 5.70% decrease in their ownership of the stock. 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.

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