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 Wednesday . The stock traded as high as C$14.98 and last traded at C$14.95, with a volume of 4854960 shares. The stock had previously closed at C$14.22.

Analyst Ratings Changes

A number of analysts have commented on the stock. National Bankshares upped their target price 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 increased their target price on shares of Kinross Gold from C$14.50 to C$18.00 in a report on Monday, October 21st. Canaccord Genuity Group lowered their price target on shares of Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating on the stock in a report on Friday, September 13th. Finally, Eight Capital increased their price objective on shares of Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$16.70.

Kinross Gold Stock Up 5.1 %

The stock has a market capitalization of C$18.39 billion, a P/E ratio of 27.69, a P/E/G ratio of -0.60 and a beta of 1.24. The business has a 50-day moving average price of C$13.81 and a 200 day moving average price of C$12.88. The company has a current ratio of 1.27, a quick ratio of 1.11 and a debt-to-equity ratio of 31.89.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were given a dividend of $0.041 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Thursday, November 28th. Kinross Gold’s dividend payout ratio is 29.63%.

Insider Activity

In related news, Director Jonathan Paul Rollinson sold 1,300,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of C$14.00, for a total transaction of C$18,200,000.00. Also, Senior Officer Claude J.S. Schimper sold 7,122 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$13.91, for a total transaction of C$99,067.02. Insiders sold 1,608,122 shares of company stock valued at $22,536,883 in the last ninety days. Insiders own 0.26% 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.