Kinross Gold (TSE:K) Sets New 1-Year High at $11.32

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high on Thursday . The company traded as high as C$11.32 and last traded at C$11.31, with a volume of 1705440 shares. The stock had previously closed at C$10.79.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Eight Capital upped their price objective on shares of Kinross Gold from C$10.00 to C$11.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Cormark upgraded Kinross Gold from a “market perform” rating to a “buy” rating and lifted their price objective for the stock from C$11.00 to C$13.00 in a research report on Thursday, May 9th. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. National Bankshares upped their price target on Kinross Gold from C$13.50 to C$13.75 in a research report on Thursday, May 9th. Finally, Stifel Nicolaus boosted their target price on shares of Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a research report on Friday, April 19th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$11.88.

Kinross Gold Stock Performance

The business has a fifty day simple moving average of C$10.27 and a 200-day simple moving average of C$8.59. The firm has a market cap of C$14.01 billion, a P/E ratio of 23.24, a P/E/G ratio of -0.60 and a beta of 1.19. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 36.08.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings results on Tuesday, May 7th. The company reported C$0.14 EPS for the quarter, beating the consensus estimate of C$0.08 by C$0.06. The firm had revenue of C$1.46 billion during the quarter, compared to analyst estimates of C$1.19 billion. Kinross Gold had a net margin of 9.86% and a return on equity of 7.06%. On average, sell-side analysts predict that Kinross Gold Co. will post 0.7244147 EPS for the current fiscal year.

Kinross Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.05%. Kinross Gold’s dividend payout ratio (DPR) is 32.65%.

Insider Transactions at Kinross Gold

In other news, Senior Officer Claude J.S. Schimper sold 7,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$11.09, for a total value of C$77,630.00. In related news, Senior Officer William D. Dunford sold 6,076 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of C$10.76, for a total value of C$65,377.76. Also, Senior Officer Claude J.S. Schimper sold 7,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$11.09, for a total transaction of C$77,630.00. In the last quarter, insiders sold 643,076 shares of company stock valued at $6,954,397. Company insiders own 0.27% of the company’s stock.

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.