Kinross Gold (TSE:K) Hits New 12-Month High at $9.39

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$9.39 and last traded at C$9.34, with a volume of 719148 shares. The stock had previously closed at C$9.20.

Wall Street Analyst Weigh In

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

Kinross Gold Trading Up 0.1 %

The company has a quick ratio of 1.11, a current ratio of 2.63 and a debt-to-equity ratio of 36.54. The firm’s 50 day simple moving average is C$7.92 and its two-hundred day simple moving average is C$7.67. The stock has a market cap of C$11.33 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of -0.60 and a beta of 1.21.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results on Wednesday, February 14th. The company reported C$0.15 earnings per share for the quarter, beating 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 firm had revenue of C$1.52 billion during the quarter, compared to analyst estimates of C$1.24 billion. As a group, equities research analysts predict that Kinross Gold Co. will post 0.4605193 earnings per share for the current fiscal year.

Kinross Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is 34.78%.

Insider Buying and Selling

In related news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total value of C$418,609.30. Following the completion of the sale, the insider now owns 3 shares of the company’s stock, valued at C$20.10. In other Kinross Gold news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total value of C$418,609.30. Following the completion of the sale, the insider now directly owns 3 shares of the company’s stock, valued at approximately C$20.10. Also, Senior Officer Nathan M. Longenecker sold 22,521 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$5.17, for a total transaction of C$116,433.57. Insiders sold 143,621 shares of company stock valued at $893,873 over the last 90 days. 0.26% of the stock is currently 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.