Kinross Gold (TSE:K) Sets New 1-Year High - Time to Buy?

Key Points

• Kinross Gold hit a new 52-week high, trading at C$29.61, reflecting strong investor interest with a robust volume of 970,322 shares exchanged.
• Wall Street analysts are optimistic about Kinross Gold's future, with multiple firms raising their ratings and price targets, resulting in a consensus rating of "Buy".
• The company announced a quarterly dividend of $0.03, representing an annualized yield of 0.4%, with a low payout ratio of 9.68%, indicating stable financial management.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC reached a new 52-week high on Tuesday . The stock traded as high as C$29.61 and last traded at C$29.05, with a volume of 970322 shares changing hands. The stock had previously closed at C$28.71.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Raymond James Financial upgraded Kinross Gold to a "hold" rating in a research 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 company an "outperform" rating in a research report on Friday, August 1st. Finally, UBS Group upgraded Kinross Gold to a "strong-buy" rating in a research report on Monday, August 4th. Four investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Kinross Gold has a consensus rating of "Buy" and an average target price of C$21.25.

Kinross Gold Trading Up 3.0%

The company has a 50 day moving average of C$24.34 and a two-hundred day moving average of C$20.87. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61. The stock has a market capitalization of C$37.33 billion, a PE ratio of 24.70, a P/E/G ratio of -0.60 and a beta of 0.67.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. Kinross Gold's dividend payout ratio is presently 9.68%.

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.