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

Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high on Monday . The company traded as high as C$41.42 and last traded at C$41.27, with a volume of 921142 shares traded. The stock had previously closed at C$38.84.

Analyst Ratings Changes

Several brokerages recently issued reports on K. Cormark downgraded Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Canaccord Genuity Group increased their price objective 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 target price on shares of Kinross Gold and gave the stock a “buy” rating in a report on Friday, November 28th. Finally, National Bankshares upped 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. Four 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.com, Kinross Gold currently has an average rating of “Buy” and an average target price of C$38.88.

Kinross Gold Trading Up 3.8%

The firm has a market cap of C$48.65 billion, a P/E ratio of 28.18, a P/E/G ratio of -0.60 and a beta of 1.27. The stock has a 50 day simple moving average of C$36.85 and a 200-day simple moving average of C$30.89. 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 posted its earnings results on Tuesday, November 4th. The company reported C$0.44 EPS for the quarter. Kinross Gold had a return on equity of 11.72% and a net margin of 15.23%.The firm had revenue of C$2.51 billion during the quarter. On average, equities research analysts expect that Kinross Gold Co. will post 1.0071259 EPS for the current fiscal year.

About Kinross Gold

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.