Kinross Gold (TSE:K) Reaches New 1-Year High Following Dividend Announcement

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price reached a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as C$9.84 and last traded at C$9.81, with a volume of 2039987 shares traded. The stock had previously closed at C$9.29.

The newly announced dividend which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.16%. Kinross Gold’s dividend payout ratio is currently 34.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stifel Nicolaus raised their target price on Kinross Gold from C$9.00 to C$11.50 and gave the stock a “buy” rating in a report on Friday, April 19th. Eight Capital increased their price target on Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. National Bankshares increased their price target on Kinross Gold from C$13.50 to C$13.75 in a research note on Thursday. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Finally, Cormark upgraded Kinross Gold from a “market perform” rating to a “buy” rating and increased their price target for the stock from C$11.00 to C$13.00 in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$11.71.

Kinross Gold Trading Up 5.7 %

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 has a market cap of C$12.68 billion, a P/E ratio of 22.41, a P/E/G ratio of -0.60 and a beta of 1.21. The company’s 50 day simple moving average is C$8.39 and its 200-day simple moving average is C$7.80.

Kinross Gold (TSE:K) (NYSE:KGC) last announced its quarterly earnings data on Wednesday, February 14th. The company reported C$0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.12 by C$0.03. The business had revenue of C$1.52 billion during the quarter, compared to the consensus estimate of C$1.24 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 6.88%. As a group, research analysts predict that Kinross Gold Co. will post 0.4605193 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer Nathan M. Longenecker sold 29,312 shares of Kinross Gold stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. In other news, Senior Officer Nathan M. Longenecker sold 29,312 shares of Kinross Gold stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of Kinross Gold stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of C$7.64, for a total transaction of C$64,176.00. Over the last quarter, insiders sold 143,621 shares of company stock valued at $893,873. Corporate 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.