Kinross Gold (TSE:K) Hits New 12-Month High – Should You Buy?

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$17.96 and last traded at C$17.55, with a volume of 3078366 shares. The stock had previously closed at C$17.46.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on K shares. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, National Bankshares upped their target price on shares of Kinross Gold from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$17.10.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. The stock has a 50 day simple moving average of C$16.30 and a two-hundred day simple moving average of C$14.59. The company has a market cap of C$15.55 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24.

Kinross Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.67%. Kinross Gold’s dividend payout ratio (DPR) is presently 18.84%.

Insider Activity

In related news, Director George Vincent Albino bought 5,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of C$16.07 per share, with a total value of C$80,369.87. Also, Senior Officer Laurence Davies sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of C$16.58, for a total transaction of C$165,800.00. Insiders sold a total of 344,670 shares of company stock valued at $5,276,336 in the last 90 days. Company insiders own 0.26% of the company’s stock.

About Kinross Gold

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.