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

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price reached a new 52-week high on Friday after Stifel Nicolaus raised their price target on the stock from C$9.00 to C$11.50. Stifel Nicolaus currently has a buy rating on the stock. Kinross Gold traded as high as C$9.37 and last traded at C$9.33, with a volume of 3113277 shares traded. The stock had previously closed at C$8.97.

Separately, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$9.88.

Insiders Place Their Bets

In other news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the transaction, the insider now directly owns 3 shares in the company, valued at approximately C$20.10. In other news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the transaction, the insider now directly owns 3 shares in the company, valued at approximately C$20.10. Also, Senior Officer Nathan M. Longenecker sold 29,312 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$4.93, for a total value of C$144,508.16. In the last three months, insiders sold 143,621 shares of company stock worth $893,873. Corporate insiders own 0.26% of the company’s stock.

Kinross Gold Stock Up 3.8 %

The company has a debt-to-equity ratio of 36.54, a current ratio of 2.63 and a quick ratio of 1.11. The business has a fifty day moving average of C$7.70 and a 200 day moving average of C$7.56. The stock has a market capitalization of C$11.45 billion, a price-to-earnings ratio of 20.24, a PEG ratio of -0.60 and a beta of 1.21.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings results on Wednesday, February 14th. The company reported C$0.15 EPS for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.03. Kinross Gold had a return on equity of 6.88% and a net margin of 9.82%. The company had revenue of C$1.52 billion for the quarter, compared to analysts’ expectations of C$1.24 billion. As a group, equities analysts predict that Kinross Gold Co. will post 0.4605193 earnings per share for the current year.

Kinross Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is currently 34.78%.

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.