Kinross Gold (TSE:K) Reaches New 12-Month High – Here’s Why

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$40.96 and last traded at C$40.03, with a volume of 876908 shares. The stock had previously closed at C$39.42.

Analysts Set New Price Targets

A number of equities analysts have commented on K shares. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Canaccord Genuity Group boosted their price target on Kinross Gold from C$29.50 to C$37.00 in a research report on Thursday, October 2nd. National Bankshares raised their price objective on Kinross Gold from C$46.00 to C$50.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Finally, Desjardins set a C$44.00 target price on shares of Kinross Gold and gave the stock a “buy” rating in a research note on Friday, November 28th. Four research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and a consensus price target of C$38.88.

Kinross Gold Stock Down 0.8%

The stock has a market cap of C$48.34 billion, a price-to-earnings ratio of 28.01, a P/E/G 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 firm’s 50 day moving average is C$36.17 and its two-hundred day moving average is C$29.86.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C$0.44 EPS for the quarter. The business had revenue of C$2.51 billion during the quarter. Kinross Gold had a net margin of 15.23% and a return on equity of 11.72%. On average, sell-side analysts predict that Kinross Gold Co. will post 1.0071259 EPS for the current year.

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.