Kinross Gold (TSE:K) Sets New 52-Week High - Time to Buy?

Key Points

• Kinross Gold hit a new 52-week high of C$31.17 and closed at C$31.03, with a trading volume of 769,568 shares.
• Analysts show confidence in Kinross Gold, with several upgrades including a "strong-buy" rating from UBS Group and an average price target increase to C$28.00 by National Bankshares.
• The company recently announced a quarterly dividend of $0.03 per share, reflecting a low dividend payout ratio of 9.68% and an annual yield of 0.4%.

Kinross Gold Co. (TSE:K - Get Free Report) NYSE: KGC hit a new 52-week high on Monday . The company traded as high as C$31.17 and last traded at C$31.03, with a volume of 769568 shares traded. The stock had previously closed at C$30.63.

Analyst Ratings Changes

K has been the topic of a number of recent analyst reports. National Bankshares lifted their price target on shares of Kinross Gold from C$27.00 to C$28.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. UBS Group upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Monday, August 4th. Finally, Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating in a report on Monday, June 30th. Four investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Kinross Gold presently has an average rating of "Buy" and an average price target of C$21.25.

Kinross Gold Stock Up 2.3%

The stock's fifty day moving average is C$24.34 and its two-hundred day moving average is C$20.90. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81. The firm has a market cap of C$38.20 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of -0.60 and a beta of 0.67.

Kinross Gold Dividend Announcement

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

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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