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

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$17.14 and last traded at C$17.05, with a volume of 799371 shares. The stock had previously closed at C$16.37.

Analysts Set New Price Targets

K has been the subject of a number of analyst reports. National Bankshares raised their price target on shares of Kinross Gold from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus raised their target price on Kinross Gold from C$14.50 to C$18.00 in a research report on Monday, October 21st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and a consensus price target of C$16.70.

Kinross Gold Trading Down 1.4 %

The company’s fifty day moving average price is C$14.44 and its two-hundred day moving average price is C$13.48. The company has a quick ratio of 1.11, a current ratio of 1.27 and a debt-to-equity ratio of 31.89. The company has a market cap of C$20.22 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of -0.60 and a beta of 1.24.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings results on Tuesday, November 5th. The company reported C$0.33 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.25 by C$0.08. Kinross Gold had a return on equity of 7.81% and a net margin of 10.91%. During the same quarter in the previous year, the business posted $0.16 earnings per share. Research analysts expect that Kinross Gold Co. will post 1.0071259 earnings per share for the current year.

Insider Transactions at Kinross Gold

In other news, Senior Officer Claude J.S. Schimper sold 7,122 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of C$13.91, for a total transaction of C$99,067.02. Also, Director Jonathan Paul Rollinson sold 200,000 shares of Kinross Gold stock in a transaction dated Monday, November 11th. The stock was sold at an average price of C$14.01, for a total value of C$2,802,000.00. Over the last quarter, insiders have sold 1,608,122 shares of company stock worth $22,536,883. Insiders own 0.26% of the company’s stock.

Kinross Gold Company Profile

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.