Kinross Gold (TSE:K) Reaches New 52-Week High – Should You Buy?

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high during trading on Monday . The company traded as high as C$45.27 and last traded at C$45.19, with a volume of 516972 shares trading hands. The stock had previously closed at C$43.45.

Wall Street Analysts Forecast Growth

K has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price target on Kinross Gold from C$29.50 to C$37.00 in a research report on Thursday, October 2nd. Desjardins set a C$44.00 target price on Kinross Gold and gave the company a “buy” rating in a report on Friday, November 28th. Cormark cut shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Finally, National Bankshares upped their price objective on shares of Kinross Gold from C$46.00 to C$50.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$38.88.

Kinross Gold Stock Performance

The company has a market cap of C$54.90 billion, a PE ratio of 31.80, a P/E/G ratio of -0.60 and a beta of 1.27. The stock’s 50 day simple moving average is C$37.81 and its two-hundred day simple moving average is C$31.63. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Tuesday, November 4th. The company reported C$0.44 EPS for the quarter. The business had revenue of C$2.51 billion during the quarter. Kinross Gold had a return on equity of 11.72% and a net margin of 15.23%. As a group, research analysts anticipate that Kinross Gold Co. will post 1.0071259 earnings per share for the current year.

Kinross Gold Company Profile

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.