Kinross Gold (TSE:K) Sets New 52-Week High at $13.06

Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$13.06 and last traded at C$12.80, with a volume of 2062756 shares. The stock had previously closed at C$12.78.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on K. National Bankshares increased their price target on Kinross Gold from C$13.75 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Cormark upgraded shares of Kinross Gold from a “market perform” rating to a “buy” rating and raised their target price for the stock from C$11.00 to C$13.00 in a research note on Thursday, May 9th. Eight Capital increased their price objective on Kinross Gold from C$11.00 to C$15.00 in a research report on Thursday, July 11th. Finally, Canaccord Genuity Group boosted their target price on shares of Kinross Gold from C$13.50 to C$16.00 in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Kinross Gold presently has an average rating of “Buy” and a consensus price target of C$13.33.

Kinross Gold Trading Down 2.8 %

The business has a 50-day moving average of C$11.68 and a 200 day moving average of C$9.73. The stock has a market cap of C$15.13 billion, a PE ratio of 22.40, a PEG ratio of -0.60 and a beta of 1.23. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Wednesday, July 31st. The company reported C$0.19 EPS for the quarter, topping the consensus estimate of C$0.18 by C$0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 7.81%. The firm had revenue of C$1.67 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. Equities research analysts predict that Kinross Gold Co. will post 0.8104994 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 22nd will be issued a $0.041 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.33%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Thursday, August 22nd. Kinross Gold’s payout ratio is presently 30.91%.

Insider Buying and Selling at Kinross Gold

In related news, Senior Officer William D. Dunford sold 6,076 shares of Kinross Gold stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of C$10.76, for a total value of C$65,377.76. In other news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$12.31, for a total value of C$55,395.00. Also, Senior Officer William D. Dunford sold 6,076 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of C$10.76, for a total transaction of C$65,377.76. 0.27% of the stock is owned by company insiders.

About Kinross Gold

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.