Kinross Gold (TSE:K) Sets New 1-Year High – Should You Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares hit a new 52-week high during trading on Monday . The stock traded as high as C$40.96 and last traded at C$40.03, with a volume of 876908 shares traded. The stock had previously closed at C$39.42.

Analyst Ratings Changes

Several brokerages have issued reports on K. National Bankshares lifted their price objective on Kinross Gold from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Canaccord Genuity Group lifted their price target on Kinross Gold from C$29.50 to C$37.00 in a report on Thursday, October 2nd. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Finally, Desjardins set a C$44.00 price target on shares of Kinross Gold and gave the company a “buy” rating in a report on Friday, November 28th. Four investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$38.88.

Kinross Gold Price Performance

The business’s 50 day moving average is C$35.95 and its two-hundred day moving average is C$29.59. The firm has a market capitalization of C$48.50 billion, a PE ratio of 28.10, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C$0.44 earnings per share (EPS) for the quarter. The firm had revenue of C$2.51 billion during the quarter. Kinross Gold had a return on equity of 11.72% and a net margin of 15.23%. As a group, research analysts anticipate that Kinross Gold Co. will post 1.0071259 EPS for the current year.

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.