Kinross Gold (TSE:K) Sets New 1-Year High After Dividend Announcement

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as C$9.84 and last traded at C$9.81, with a volume of 2039987 shares changing hands. The stock had previously closed at C$9.29.

The newly announced dividend which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.23%. Kinross Gold’s dividend payout ratio is presently 34.78%.

Analyst Ratings Changes

A number of research firms recently commented on K. Eight Capital increased their price objective on Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Canaccord Genuity Group raised their target price on Kinross Gold from C$11.00 to C$12.50 in a research report on Tuesday, April 23rd. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Finally, Stifel Nicolaus raised their target price on Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a research report on Friday, April 19th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$10.70.

Kinross Gold Stock Performance

The company has a current ratio of 2.63, a quick ratio of 1.11 and a debt-to-equity ratio of 36.54. The company’s 50-day simple moving average is C$8.32 and its 200-day simple moving average is C$7.78. The stock has a market capitalization of C$11.99 billion, a price-to-earnings ratio of 21.20, a PEG ratio of -0.60 and a beta of 1.21.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its earnings results on Wednesday, February 14th. The company reported C$0.15 earnings per share (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 business had revenue of C$1.52 billion for the quarter, compared to analyst estimates of C$1.24 billion. On average, analysts expect that Kinross Gold Co. will post 0.4605193 EPS for the current year.

Insider Activity

In related news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. In other Kinross Gold news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. Also, Senior Officer Michiel Van Akkooi sold 62,479 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the transaction, the insider now directly owns 3 shares of the company’s stock, valued at approximately C$20.10. Insiders sold a total of 143,621 shares of company stock worth $893,873 over the last quarter. Insiders own 0.26% of the company’s stock.

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.