Kinross Gold (TSE:K) Reaches New 1-Year High – Still a Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$17.14 and last traded at C$17.05, with a volume of 799371 shares changing hands. The stock had previously closed at C$16.37.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. National Bankshares raised their price objective on shares of Kinross Gold from C$19.00 to C$20.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Stifel Nicolaus raised their price target on shares of Kinross Gold from C$14.50 to C$18.00 in a report on Monday, October 21st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$16.70.

Kinross Gold Trading Up 2.5 %

The firm’s 50-day moving average is C$14.34 and its 200-day moving average is C$13.43. The company has a current ratio of 1.27, a quick ratio of 1.11 and a debt-to-equity ratio of 31.89. The firm has a market cap of C$20.64 billion, a price-to-earnings ratio of 31.07, a P/E/G ratio of -0.60 and a beta of 1.24.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings results on Tuesday, November 5th. The company reported C$0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.25 by C$0.08. Kinross Gold had a net margin of 10.91% and a return on equity of 7.81%. During the same period in the prior year, the company posted $0.16 earnings per share. As a group, sell-side analysts anticipate that Kinross Gold Co. will post 1.0071259 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were issued a dividend of $0.041 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, November 28th. Kinross Gold’s dividend payout ratio is 29.63%.

Insiders Place Their Bets

In other news, Senior Officer Claude J.S. Schimper sold 7,122 shares of Kinross Gold stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of C$13.91, for a total transaction of C$99,067.02. Also, Director George Nickolas Paspalas acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of C$13.79 per share, for a total transaction of C$68,950.00. Insiders have sold 1,608,122 shares of company stock valued at $22,536,883 in the last three months. 0.26% of the stock is currently owned by 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.