Kinross Gold (TSE:K) Sets New 12-Month High – Here’s What Happened

Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high on Monday . The company traded as high as C$53.55 and last traded at C$53.38, with a volume of 1380601 shares trading hands. The stock had previously closed at C$50.92.

Analyst Ratings Changes

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

Kinross Gold Stock Up 2.0%

The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61. The firm has a market capitalization of C$62.67 billion, a P/E ratio of 36.31, a P/E/G ratio of -0.60 and a beta of 1.27. The stock has a fifty day moving average price of C$40.51 and a two-hundred day moving average price of C$33.51.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Tuesday, November 4th. The company reported C$0.44 EPS for the quarter. Kinross Gold had a net margin of 15.23% and a return on equity of 11.72%. The firm had revenue of C$2.51 billion during the quarter. Research analysts forecast 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.