Kinross Gold (TSE:K) Reaches New 1-Year High After Analyst Upgrade

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price reached a new 52-week high on Friday after Stifel Nicolaus raised their price target on the stock from C$9.00 to C$11.50. Stifel Nicolaus currently has a buy rating on the stock. Kinross Gold traded as high as C$9.37 and last traded at C$9.33, with a volume of 3113277 shares changing hands. The stock had previously closed at C$8.97.

Separately, National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$9.88.

Insider Buying and Selling at Kinross Gold

In other news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total value of C$418,609.30. Following the sale, the insider now owns 3 shares in the company, valued at approximately C$20.10. In related news, Senior Officer Nathan M. Longenecker sold 22,521 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$5.17, for a total transaction of C$116,433.57. Also, Senior Officer Michiel Van Akkooi sold 62,479 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the sale, the insider now owns 3 shares in the company, valued at approximately C$20.10. Insiders sold a total of 143,621 shares of company stock valued at $893,873 in the last ninety days. Insiders own 0.26% of the company’s stock.

Kinross Gold Trading Up 3.8 %

The stock has a market cap of C$11.45 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of -0.60 and a beta of 1.21. The firm’s 50 day moving average is C$7.70 and its two-hundred day moving average is C$7.56. The company has a quick ratio of 1.11, a current ratio of 2.63 and a debt-to-equity ratio of 36.54.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its earnings results on Wednesday, February 14th. The company reported C$0.15 EPS for the quarter, topping the consensus estimate of C$0.12 by C$0.03. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%. The firm had revenue of C$1.52 billion during the quarter, compared to analysts’ expectations of C$1.24 billion. Equities analysts anticipate that Kinross Gold Co. will post 0.4605193 EPS for the current year.

Kinross Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is 34.78%.

Kinross Gold Company Profile

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.