Kinross Gold (TSE:K) Reaches New 1-Year High - What's Next?

Key Points

• Kinross Gold shares reached a new 52-week high of C$26.49, closing at C$26.36 with a trading volume of 3,279,876 shares.
• Several analysts have upgraded Kinross Gold's stock ratings, with BMO Capital Markets assigning a "strong-buy" rating and National Bankshares raising the target price to C$28.00.
• Kinross Gold announced a quarterly dividend of $0.03, reflecting a 0.5% yield, with a payout ratio of 18.84%.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC's share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$26.49 and last traded at C$26.36, with a volume of 3279876 shares trading hands. The stock had previously closed at C$26.12.

Analysts Set New Price Targets

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

Kinross Gold Trading Up 2.3%

The firm has a market cap of C$23.25 billion, a P/E ratio of 31.48, a PEG ratio of -0.60 and a beta of 1.24. 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 company's 50 day moving average is C$22.22 and its two-hundred day moving average is C$19.65.

Kinross Gold Announces Dividend

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

Insider Activity at Kinross Gold

In related news, Senior Officer Claude J.S. Schimper sold 1,339 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of C$20.39, for a total value of C$27,302.21. 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. Over the last 90 days, insiders sold 42,833 shares of company stock valued at $901,122. 0.26% of the stock is owned by 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.