Kinross Gold (TSE:K) Hits New 12-Month High – Here’s Why

Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$14.12 and last traded at C$14.10, with a volume of 754802 shares traded. The stock had previously closed at C$13.81.

Wall Street Analyst Weigh In

Several analysts have recently commented on K shares. National Bankshares raised their price objective on shares of Kinross Gold from C$13.75 to C$16.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Eight Capital raised their price target on Kinross Gold from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Canaccord Genuity Group dropped their price objective on Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating for the company in a research note on Friday, September 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$14.60.

Kinross Gold Stock Performance

The company has a market capitalization of C$18.01 billion, a P/E ratio of 27.11, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27. The business’s fifty day simple moving average is C$12.60 and its 200-day simple moving average is C$11.24.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Wednesday, July 31st. The company reported C$0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.18 by C$0.01. The firm had revenue of C$1.67 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. As a group, equities analysts anticipate that Kinross Gold Co. will post 1.0071259 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.041 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.12%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is 29.63%.

Insider Activity

In other Kinross Gold news, Senior Officer David C. Shaver sold 4,663 shares of Kinross Gold stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$13.17, for a total value of C$61,411.71. In other news, Senior Officer Laurence Davies sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$13.05, for a total transaction of C$156,600.00. Also, Senior Officer David C. Shaver sold 4,663 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$13.17, for a total value of C$61,411.71. In the last ninety days, insiders sold 21,163 shares of company stock worth $273,407. 0.26% of the stock is currently owned by insiders.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.