Kinross Gold (TSE:K) Sets New 1-Year High After Analyst Upgrade

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price hit a new 52-week high on Thursday after Eight Capital raised their price target on the stock from C$11.00 to C$15.00. The company traded as high as C$12.48 and last traded at C$12.20, with a volume of 581062 shares traded. The stock had previously closed at C$12.19.

A number of other analysts also recently weighed in on the stock. National Bankshares upped their price target on shares of Kinross Gold from C$13.50 to C$13.75 in a report on Thursday, May 9th. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Cormark raised shares of Kinross Gold from a “market perform” rating to a “buy” rating and increased their price objective for the company from C$11.00 to C$13.00 in a research note on Thursday, May 9th. Canaccord Genuity Group increased their price objective on shares of Kinross Gold from C$12.50 to C$13.50 and gave the company a “buy” rating in a research note on Thursday, May 16th. Finally, Stifel Nicolaus increased their price objective on shares of Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a research note on Friday, April 19th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of C$12.54.

Insider Activity at Kinross Gold

In other news, Senior Officer Claude J.S. Schimper sold 7,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of C$11.09, for a total transaction of C$77,630.00. In other news, Senior Officer William D. Dunford sold 6,076 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of C$10.76, for a total transaction of C$65,377.76. Also, Senior Officer Claude J.S. Schimper sold 7,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$11.09, for a total transaction of C$77,630.00. Insiders sold a total of 643,076 shares of company stock valued at $6,954,397 in the last quarter. Insiders own 0.27% of the company’s stock.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 36.08, a current ratio of 1.15 and a quick ratio of 1.11. The firm has a market capitalization of C$15.44 billion, a price-to-earnings ratio of 25.61, a PEG ratio of -0.60 and a beta of 1.19. The business’s fifty day simple moving average is C$10.81 and its 200 day simple moving average is C$8.84.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly earnings results on Tuesday, May 7th. The company reported C$0.14 EPS for the quarter, topping analysts’ consensus estimates of C$0.08 by C$0.06. The business had revenue of C$1.46 billion during the quarter, compared to analysts’ expectations of C$1.19 billion. Kinross Gold had a net margin of 9.86% and a return on equity of 7.06%. On average, research analysts forecast that Kinross Gold Co. will post 0.7244147 EPS for the current year.

Kinross Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, May 30th. Kinross Gold’s payout ratio is 32.65%.

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.