Kinross Gold (TSE:K) Reaches New 12-Month High Following Analyst Upgrade

Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high during mid-day trading on Friday after Stifel Nicolaus raised their price target on the stock from C$9.00 to C$11.50. Stifel Nicolaus currently has a buy rating on the stock. Kinross Gold traded as high as C$9.37 and last traded at C$9.33, with a volume of 3113277 shares changing hands. The stock had previously closed at C$8.97.

Separately, National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$9.88.

Insider Activity

In other Kinross Gold news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the sale, the insider now directly owns 3 shares of the company’s stock, valued at C$20.10. In related news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total value of C$418,609.30. Following the transaction, the insider now directly owns 3 shares in the company, valued at C$20.10. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of C$7.64, for a total transaction of C$64,176.00. Over the last 90 days, insiders sold 143,621 shares of company stock valued at $893,873. Insiders own 0.26% of the company’s stock.

Kinross Gold Trading Up 3.8 %

The business’s 50-day moving average price is C$7.65 and its 200 day moving average price is C$7.53. The company has a debt-to-equity ratio of 36.54, a quick ratio of 1.11 and a current ratio of 2.63. The company has a market cap of C$11.45 billion, a P/E ratio of 20.24, a P/E/G ratio of -0.60 and a beta of 1.21.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings data on Wednesday, February 14th. The company reported C$0.15 earnings per share for the quarter, topping the consensus estimate of C$0.12 by C$0.03. The business had revenue of C$1.52 billion during the quarter, compared to analysts’ expectations of C$1.24 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%. As a group, analysts expect that Kinross Gold Co. will post 0.4605193 earnings per share for the current year.

Kinross Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is currently 34.78%.

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.