Kinross Gold Co. (TSE:K – Get Free Report) (NYSE:KGC) hit a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as C$21.93 and last traded at C$21.85, with a volume of 950459 shares trading hands. The stock had previously closed at C$21.00.
The newly announced dividend which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.58%. Kinross Gold’s dividend payout ratio is currently 18.84%.
Analysts Set New Price Targets
K has been the subject of several analyst reports. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. National Bankshares boosted their price target on shares of Kinross Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Wednesday, April 2nd. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Stifel Nicolaus boosted their target price on shares of Kinross Gold from C$23.50 to C$24.50 and gave the stock a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets upgraded Kinross Gold to a “strong-buy” rating in a report on Wednesday, April 16th. Five investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$18.60.
Kinross Gold Stock Performance
The stock has a market capitalization of C$17.88 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81. The company has a 50-day moving average price of C$18.46 and a two-hundred day moving average price of C$16.00.
Insider Transactions at Kinross Gold
In other news, Director George Vincent Albino bought 5,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of C$16.07 per share, with a total value of C$80,369.87. Also, Senior Officer Claude J.S. Schimper sold 10,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$15.63, for a total transaction of C$156,300.00. Insiders sold a total of 349,670 shares of company stock valued at $5,366,186 in the last quarter. 0.26% of the stock is currently owned by company 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.
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