Kinross Gold (TSE:K) Sets New 1-Year High – What’s Next?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$14.12 and last traded at C$14.10, with a volume of 754802 shares changing hands. The stock had previously closed at C$13.81.

Analyst Ratings Changes

Several brokerages have recently issued reports on K. Canaccord Genuity Group reduced their price target on shares of Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating for the company in a report on Friday, September 13th. National Bankshares increased their target price on shares of Kinross Gold from C$13.75 to C$16.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Eight Capital boosted their target price on Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$14.60.

Kinross Gold Stock Performance

The company has a market capitalization of C$17.38 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of -0.60 and a beta of 1.24. The firm’s 50 day simple moving average is C$12.51 and its 200-day simple moving average is C$11.16. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Wednesday, July 31st. The company reported C$0.19 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. The company had revenue of C$1.67 billion for the quarter, compared to the consensus estimate of C$1.39 billion. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. Analysts expect that Kinross Gold Co. will post 1.0071259 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a $0.041 dividend. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 1.16%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is presently 29.63%.

Insider Transactions at Kinross Gold

In other news, Senior Officer Claude J.S. Schimper sold 4,500 shares of Kinross Gold stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total transaction of C$55,395.00. In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$12.31, for a total transaction of C$55,395.00. Also, Senior Officer Laurence Davies sold 12,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$13.05, for a total value of C$156,600.00. Over the last three months, insiders sold 21,163 shares of company stock worth $273,407. 0.26% of the stock is owned by insiders.

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.