Kinross Gold (TSE:K) Sets New 12-Month High – Time to Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$13.84 and last traded at C$13.73, with a volume of 147473 shares trading hands. The stock had previously closed at C$13.56.

Analyst Ratings Changes

K has been the topic of a number of research reports. Eight Capital raised their target price on shares of Kinross Gold from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. National Bankshares lifted their target price on Kinross Gold from C$13.75 to C$16.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Canaccord Genuity Group lowered their target price on Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating for the company in a report on Friday, September 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and an average target price of C$14.60.

Kinross Gold Price Performance

The stock’s 50 day simple moving average is C$12.44 and its 200-day simple moving average is C$11.06. The firm has a market cap of C$16.63 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. 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 posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.19 earnings per share for the quarter, beating the consensus estimate of C$0.18 by C$0.01. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. The business had revenue of C$1.67 billion for the quarter, compared to the consensus estimate of C$1.39 billion. Equities research analysts anticipate that Kinross Gold Co. will post 1.0071259 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were issued a $0.041 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 1.21%. Kinross Gold’s payout ratio is presently 29.63%.

Insider Buying and Selling at Kinross Gold

In other Kinross Gold news, Senior Officer Claude J.S. Schimper sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total value of C$55,395.00. In other news, Senior Officer David C. Shaver sold 4,663 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of C$13.17, for a total transaction of C$61,411.71. Also, Senior Officer Claude J.S. Schimper sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$12.31, for a total value of C$55,395.00. Over the last ninety days, insiders sold 21,163 shares of company stock valued at $273,407. 0.26% 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.