Kinross Gold (TSE:K) Hits New 12-Month High – What’s Next?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price hit a new 52-week high on Friday . The company traded as high as C$13.84 and last traded at C$13.73, with a volume of 147473 shares. The stock had previously closed at C$13.56.

Wall Street Analyst Weigh In

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

Kinross Gold Stock Performance

The company has a 50 day simple moving average of C$12.41 and a two-hundred day simple moving average of C$10.99. The firm has a market cap of C$16.68 billion, a PE ratio of 25.11, 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.

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

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.041 per share. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 1.21%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is presently 29.63%.

Insider Activity at Kinross Gold

In other Kinross Gold news, Senior Officer David C. Shaver sold 4,663 shares of the business’s 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 David C. Shaver sold 4,663 shares of Kinross Gold stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$13.17, for a total transaction of C$61,411.71. Also, Senior Officer Laurence Davies sold 12,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$13.05, for a total value of C$156,600.00. In the last 90 days, insiders have sold 21,163 shares of company stock valued at $273,407. 0.26% of the stock is owned by corporate insiders.

Kinross Gold Company Profile

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.