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

Key Points

• Kinross Gold shares reached a new 52-week high of C$35.99 during trading, with a closing price of C$35.44 and a trading volume of 897,166 shares.
• Analysts are optimistic, with Canaccord Genuity raising their price target to C$37.00 and UBS upgrading the stock to a "strong-buy" rating.
• The company declared a quarterly dividend of $0.03 per share, reflecting an annual yield of 0.3% and a payout ratio of 9.68%.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC shares hit a new 52-week high during trading on Monday . The stock traded as high as C$35.99 and last traded at C$35.44, with a volume of 897166 shares. The stock had previously closed at C$34.89.

Analyst Ratings Changes

Several brokerages have commented on K. Canaccord Genuity Group raised their price objective on shares of Kinross Gold from C$29.50 to C$37.00 in a report on Thursday. UBS Group upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Monday, August 4th. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating in a report on Monday, June 30th. Finally, National Bankshares lifted their target price 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. Four 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$29.83.

Kinross Gold Stock Up 2.0%

The company has a market cap of C$43.38 billion, a P/E ratio of 28.70, a P/E/G ratio of -0.60 and a beta of 1.04. 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$28.88 and its two-hundred day moving average is C$23.22.

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 dividend yield of 0.3%. Kinross Gold's dividend payout ratio (DPR) is currently 9.68%.

Insider Buying and Selling at Kinross Gold

In related news, insider Claude J.S. Schimper sold 2,131 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of C$27.86, for a total transaction of C$59,369.66. Following the completion of the sale, the insider owned 35,258 shares of the company's stock, valued at C$982,287.88. This trade represents a 5.70% decrease in their ownership of the stock. 0.26% of the stock is owned by company 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.

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