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

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price hit 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 Analyst Weigh In

A number of analysts recently weighed in on the stock. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. National Bankshares lifted their target price on Kinross Gold from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$17.10.

Kinross Gold Stock Performance

The business has a 50 day simple moving average of C$16.30 and a 200 day simple moving average of C$14.59. The company has a market capitalization of C$15.55 billion, a PE ratio of 21.05, a PEG ratio of -0.60 and a beta of 1.24. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81.

Kinross Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.67%. Kinross Gold’s payout ratio is currently 18.84%.

Insider Activity

In other Kinross Gold news, Director George Vincent Albino purchased 5,000 shares of Kinross Gold stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of C$16.07 per share, with a total value of C$80,369.87. Also, Director Jonathan Paul Rollinson sold 205,318 shares of Kinross Gold stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$15.22, for a total transaction of C$3,124,939.96. Insiders have sold 344,670 shares of company stock valued at $5,276,336 over the last ninety days. 0.26% of the stock is currently owned by insiders.

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.