Kinross Gold (TSE:K) Sets New 1-Year High – Here’s Why

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price reached a new 52-week high on Monday . The stock traded as high as C$48.10 and last traded at C$47.87, with a volume of 483406 shares changing hands. The stock had previously closed at C$46.82.

Analyst Ratings Changes

Several equities research analysts recently commented on K shares. Desjardins set a C$44.00 price objective on shares of Kinross Gold and gave the stock a “buy” rating in a research report on Friday, November 28th. National Bankshares lifted their target price on shares of Kinross Gold from C$46.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Canaccord Genuity Group increased their price target on shares of Kinross Gold from C$29.50 to C$37.00 in a research report on Thursday, October 2nd. Finally, Cormark cut shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold has an average rating of “Buy” and a consensus price target of C$38.88.

Kinross Gold Stock Up 4.7%

The stock has a market cap of C$61.04 billion, a price-to-earnings ratio of 35.36, a P/E/G ratio of -0.60 and a beta of 1.27. The firm’s 50 day moving average is C$39.67 and its two-hundred day moving average is C$32.91. The company has a current ratio of 1.61, a quick ratio of 1.11 and a debt-to-equity ratio of 18.81.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C$0.44 EPS for the quarter. The business had revenue of C$2.51 billion during the quarter. Kinross Gold had a net margin of 15.23% and a return on equity of 11.72%. On average, sell-side analysts predict that Kinross Gold Co. will post 1.0071259 EPS for the current year.

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. The company has historically used acquisitions to fuel expansion into new regions and production growth.