Kinross Gold (TSE:K) Hits New 12-Month High – Still a Buy?

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price hit a new 52-week high on Wednesday . The company traded as high as C$15.48 and last traded at C$15.21, with a volume of 378157 shares traded. The stock had previously closed at C$15.20.

Analyst Upgrades and Downgrades

K has been the topic of a number of recent research reports. National Bankshares increased their target price 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. Stifel Nicolaus upped their price objective on shares of Kinross Gold from C$14.50 to C$18.00 in a report on Monday, October 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Kinross Gold presently has a consensus rating of “Buy” and an average target price of C$16.70.

Kinross Gold Stock Performance

The company’s 50 day moving average price is C$13.86 and its 200-day moving average price is C$13.02. The stock has a market cap of C$18.51 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were given a dividend of $0.041 per share. The ex-dividend date was Thursday, November 28th. This represents a $0.16 annualized dividend and a dividend yield of 1.09%. Kinross Gold’s dividend payout ratio is currently 29.63%.

Insiders Place Their Bets

In related news, Senior Officer Claude J.S. Schimper sold 7,122 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$13.91, for a total value of C$99,067.02. Also, Director Jonathan Paul Rollinson sold 1,300,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$14.00, for a total transaction of C$18,200,000.00. Over the last quarter, insiders have sold 1,608,122 shares of company stock valued at $22,536,883. Insiders own 0.26% of the company’s stock.

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.