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

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$17.63 and last traded at C$17.25, with a volume of 453133 shares changing hands. The stock had previously closed at C$16.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on K shares. National Bankshares raised their price target on Kinross Gold from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on Kinross Gold from C$14.50 to C$18.00 in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Kinross Gold has an average rating of “Buy” and a consensus target price of C$16.70.

Kinross Gold Price Performance

The firm has a 50 day moving average of C$14.63 and a two-hundred day moving average of C$13.58. The company has a market cap of C$21.21 billion, a PE ratio of 31.93, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a current ratio of 1.27, a quick ratio of 1.11 and a debt-to-equity ratio of 31.89.

Insiders Place Their Bets

In related news, Director George Nickolas Paspalas acquired 5,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was acquired at an average price of C$13.79 per share, with a total value of C$68,950.00. Also, Senior Officer Geoffrey Peters Gold sold 100,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$14.22, for a total transaction of C$1,421,710.00. In the last quarter, insiders sold 1,408,122 shares of company stock valued at $19,734,883. Company insiders own 0.26% of the company’s stock.

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.