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

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares hit a new 52-week high during mid-day trading on Thursday after National Bankshares raised their price target on the stock from C$19.00 to C$20.00. National Bankshares currently has an outperform rating on the stock. Kinross Gold traded as high as C$14.95 and last traded at C$14.68, with a volume of 276442 shares traded. The stock had previously closed at C$14.82.

Several other research firms also recently issued reports on K. Eight Capital upped their price objective on Kinross Gold from C$15.00 to C$16.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Stifel Nicolaus boosted their price objective on Kinross Gold from C$14.50 to C$18.00 in a research note on Monday, October 21st. Finally, Canaccord Genuity Group cut their target price on shares of Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating on the stock in a research note on Friday, September 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$16.70.

Insider Activity at Kinross Gold

In other Kinross Gold news, Senior Officer David C. Shaver sold 4,663 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$13.17, for a total value of C$61,411.71. In other news, Senior Officer Laurence Davies sold 12,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$13.05, for a total transaction of C$156,600.00. Also, Senior Officer David C. Shaver sold 4,663 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$13.17, for a total value of C$61,411.71. Insiders have sold 21,163 shares of company stock valued at $273,407 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Kinross Gold Price Performance

The business’s 50 day moving average is C$12.90 and its two-hundred day moving average is C$11.47. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27. The firm has a market capitalization of C$17.98 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24.

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

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.041 per share. The ex-dividend date was Thursday, August 22nd. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 1.12%. Kinross Gold’s dividend payout ratio is currently 29.63%.

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.