Kinross Gold (TSE:K) Sets New 52-Week High – Time to Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high during trading on Wednesday . The company traded as high as C$14.98 and last traded at C$14.95, with a volume of 4854960 shares trading hands. The stock had previously closed at C$14.22.

Analyst Ratings Changes

Several research analysts recently commented on K shares. Stifel Nicolaus raised their price objective on shares of Kinross Gold from C$14.50 to C$18.00 in a report on Monday, October 21st. Canaccord Genuity Group reduced their price target on Kinross Gold from C$17.00 to C$16.50 and set a “buy” rating for the company in a research report on Friday, September 13th. National Bankshares increased their price objective on Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Eight Capital lifted their target price on Kinross Gold from C$15.00 to C$16.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Kinross Gold has an average rating of “Buy” and an average target price of C$16.70.

Kinross Gold Price Performance

The company has a current ratio of 1.27, a quick ratio of 1.11 and a debt-to-equity ratio of 31.89. The firm has a fifty day moving average of C$13.81 and a two-hundred day moving average of C$12.88. The company has a market capitalization of C$18.39 billion, a PE ratio of 27.69, a PEG ratio of -0.60 and a beta of 1.24.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were issued a $0.041 dividend. This represents a $0.16 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, November 28th. Kinross Gold’s dividend payout ratio (DPR) is currently 29.63%.

Insider Buying and Selling

In other news, Senior Officer Geoffrey Peters Gold sold 100,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$14.22, for a total value of C$1,421,710.00. Also, Senior Officer Claude J.S. Schimper sold 7,122 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$13.91, for a total transaction of C$99,067.02. Insiders sold 1,608,122 shares of company stock valued at $22,536,883 over the last quarter. 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.