Kinross Gold (TSE:K) Reaches New 12-Month High - Here's Why

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$22.02 and last traded at C$21.99, with a volume of 1226626 shares trading hands. The stock had previously closed at C$21.24.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on K shares. Stifel Canada upgraded Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. National Bankshares boosted their price objective on shares of Kinross Gold from C$22.00 to C$23.00 and gave the company an "outperform" rating in a report on Wednesday, April 2nd. Stifel Nicolaus upped their target price on shares of Kinross Gold from C$23.50 to C$24.50 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, BMO Capital Markets raised shares of Kinross Gold to a "strong-buy" rating in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of C$20.00.

Kinross Gold Trading Up 2.0%

The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. The business has a 50-day moving average price of C$20.42 and a two-hundred day moving average price of C$17.40. The firm has a market cap of C$18.83 billion, a PE ratio of 25.50, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.55%. Kinross Gold's payout ratio is 18.84%.

Insider Activity

In related news, Senior Officer Geoffrey Peters Gold sold 18,834 shares of the 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. Also, Senior Officer Claude J.S. Schimper sold 5,000 shares of Kinross Gold stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of C$17.97, for a total value of C$89,850.00. In the last 90 days, insiders have sold 47,833 shares of company stock valued at $990,972. Company 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.

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