Kinross Gold (TSE:K) Reaches New 52-Week High - Should You Buy?

Key Points

• Kinross Gold reached a new 52-week high with shares trading at C$33.25 during recent trading sessions, marking significant momentum.
• Analysts have shown optimism as several firms, including UBS Group and National Bankshares, raised their ratings, with a consensus price target of C$26.25.
• The company announced a quarterly dividend of $0.03 per share, yielding 0.4%, with a low dividend payout ratio of 9.68%, indicating strong cash flow management.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$33.25 and last traded at C$32.60, with a volume of 993321 shares trading hands. The stock had previously closed at C$32.28.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. National Bankshares increased their price objective 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. UBS Group upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Monday, August 4th. Finally, Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating in a research note on Monday, June 30th. Four research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of C$26.25.

Kinross Gold Price Performance

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 firm has a fifty day moving average of C$26.64 and a two-hundred day moving average of C$22.13. The stock has a market capitalization of C$40.83 billion, a P/E ratio of 27.02, a P/E/G ratio of -0.60 and a beta of 0.67.

Kinross Gold Dividend Announcement

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

Insider Transactions at Kinross Gold

In other Kinross Gold news, insider Claude J.S. Schimper sold 2,131 shares of Kinross Gold stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of C$27.86, for a total value of C$59,369.66. Following the transaction, the insider owned 35,258 shares in the company, valued at C$982,287.88. The trade was a 5.70% decrease in their ownership of the stock. 0.26% of the stock is owned by company 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.