Kinross Gold (TSE:K) Reaches New 12-Month 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 shares reached a new 52-week high on Tuesday . The company traded as high as C$26.49 and last traded at C$26.36, with a volume of 3279876 shares traded. The stock had previously closed at C$26.12.

Analysts Set New Price Targets

Several equities analysts have recently commented on K shares. Stifel Nicolaus boosted 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 report on Wednesday, May 7th. BMO Capital Markets raised shares of Kinross Gold to a "strong-buy" rating in a report on Wednesday, April 16th. National Bankshares boosted 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 report on Friday, August 1st. Raymond James Financial raised shares of Kinross Gold to a "hold" rating in a research note on Monday, June 30th. Finally, UBS Group raised shares of Kinross Gold to a "strong-buy" rating in a research note on Monday, August 4th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$21.25.

Kinross Gold Trading Up 0.9%

The firm has a market capitalization of C$22.92 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. The company's 50-day simple moving average is C$21.80 and its 200 day simple moving average is C$19.40. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81.

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 dividend yield of 0.5%. Kinross Gold's payout ratio is currently 18.84%.

Insider Activity at Kinross Gold

In other Kinross Gold news, Senior Officer Lucas Crosby sold 12,660 shares of the firm's 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 transaction of C$271,920.34. Also, Senior Officer Claude J.S. Schimper sold 1,339 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of C$20.39, for a total transaction of C$27,302.21. Over the last quarter, insiders sold 42,833 shares of company stock valued at $901,122. Company 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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