Kinross Gold (TSE:K) Reaches New 52-Week High – What’s Next?

Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high during trading on Wednesday . The company traded as high as C$14.95 and last traded at C$14.93, with a volume of 1648961 shares changing hands. The stock had previously closed at C$14.29.

Wall Street Analysts Forecast Growth

Several research firms have commented on K. Canaccord Genuity Group dropped their price objective on shares of Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating for the company in a research note on Friday, September 13th. Stifel Nicolaus raised their target price on shares of Kinross Gold from C$14.50 to C$18.00 in a research report on Monday, October 21st. Eight Capital boosted their price target on Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, National Bankshares boosted their price objective on shares of Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and an average price target of C$16.70.

Kinross Gold Stock Performance

The stock has a market cap of C$17.10 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of -0.60 and a beta of 1.24. The firm’s 50-day moving average is C$13.90 and its two-hundred day moving average is C$12.50. 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 business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were issued a dividend of $0.041 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, November 28th. Kinross Gold’s dividend payout ratio is currently 29.63%.

Insider Transactions at Kinross Gold

In other news, Senior Officer Geoffrey Peters Gold sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of C$14.22, for a total value of C$1,421,710.00. Also, Senior Officer Laurence Davies sold 12,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$13.05, for a total value of C$156,600.00. Insiders have sold a total of 1,624,785 shares of company stock worth $22,754,895 in the last quarter. Company insiders own 0.26% of the company’s stock.

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.