Kinross Gold (TSE:K) Hits New 1-Year High - Here's What Happened

Key Points

• Kinross Gold has reached a new 52-week high, trading at C$26.93, indicating strong market performance and investor interest.
• Recent analyst reports show a positive outlook for the company, with target prices being raised and several upgrades to "buy" and "strong buy" ratings.
• The company announced a quarterly dividend of $0.03, with a 0.5% yield, highlighting its commitment to returning value to shareholders.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC reached a new 52-week high during trading on Monday . The stock traded as high as C$26.93 and last traded at C$26.60, with a volume of 538835 shares changing hands. The stock had previously closed at C$26.74.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. National Bankshares raised their price target on shares of Kinross Gold from C$27.00 to C$28.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating in a report on Monday, June 30th. Stifel Nicolaus raised their price target on shares of Kinross Gold from C$23.50 to C$24.50 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, UBS Group upgraded shares of 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, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of C$21.25.

Kinross Gold Stock Down 0.1%

The stock's 50-day moving average is C$22.80 and its 200-day moving average is C$20.00. The stock has a market cap of C$23.56 billion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81.

Kinross Gold Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.4%. Kinross Gold's dividend payout ratio is presently 18.84%.

Insider Transactions at Kinross Gold

In other Kinross Gold news, Senior Officer Geoffrey Peters Gold sold 18,834 shares of the company's 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 Lucas Crosby sold 12,660 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of C$21.48, for a total transaction of C$271,920.34. 0.26% of the stock is currently owned by corporate insiders.

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.