Kinross Gold (TSE:K) Reaches New 52-Week High After Analyst Upgrade

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares hit a new 52-week high during mid-day trading on Thursday after National Bankshares raised their price target on the stock from C$19.00 to C$20.00. National Bankshares currently has an outperform rating on the stock. Kinross Gold traded as high as C$14.95 and last traded at C$14.68, with a volume of 276442 shares changing hands. The stock had previously closed at C$14.82.

K has been the subject of several other reports. Stifel Nicolaus lifted their price objective on Kinross Gold from C$14.50 to C$18.00 in a research report on Monday. Eight Capital boosted their target price on Kinross Gold from C$15.00 to C$16.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Canaccord Genuity Group decreased 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. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$16.70.

Insiders Place Their Bets

In other news, Senior Officer David C. Shaver sold 4,663 shares of the company’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 Kinross Gold news, Senior Officer David C. Shaver sold 4,663 shares of Kinross Gold stock in a transaction dated 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 Claude J.S. Schimper sold 4,500 shares of Kinross Gold stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total value of C$55,395.00. Insiders have sold a total of 21,163 shares of company stock worth $273,407 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Kinross Gold Stock Performance

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 has a 50-day moving average price of C$12.79 and a 200 day moving average price of C$11.38. The stock has a market capitalization of C$18.20 billion, a P/E ratio of 27.44, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.18 by C$0.01. The business 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, sell-side analysts forecast 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 paid a dividend of $0.041 per share. The ex-dividend date was Thursday, August 22nd. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 1.11%. Kinross Gold’s payout ratio is currently 29.63%.

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.