Kinross Gold (TSE:K) Sets New 1-Year High – Here’s Why

Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high on Tuesday . The company traded as high as C$29.61 and last traded at C$29.05, with a volume of 970322 shares changing hands. The stock had previously closed at C$28.71.

Wall Street Analysts Forecast Growth

K has been the topic of a number of analyst reports. National Bankshares lifted their price target on Kinross Gold from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Stifel Nicolaus lifted their price objective on Kinross Gold from C$23.50 to C$24.50 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Raymond James Financial upgraded Kinross Gold to a “hold” rating in a research report on Monday, June 30th. Finally, UBS Group raised Kinross Gold to a “strong-buy” rating in a report on Monday, August 4th. Four research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$21.25.

Kinross Gold Price Performance

The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61. The stock has a market capitalization of C$35.97 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of -0.60 and a beta of 0.54. The company has a 50-day moving average of C$23.62 and a 200-day moving average of C$20.51.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.4%. Kinross Gold’s payout ratio is currently 9.68%.

Kinross Gold Company Profile

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.