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

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) reached a new 52-week high on Monday . The stock 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.

Wall Street Analyst Weigh In

K has been the subject of several research analyst reports. Desjardins set a C$44.00 target price on Kinross Gold and gave the company a “buy” rating in a research report on Friday, November 28th. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Canaccord Genuity Group raised their price objective on shares of Kinross Gold from C$29.50 to C$37.00 in a report on Thursday, October 2nd. Finally, National Bankshares lifted 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 research report on Tuesday, December 9th. Four analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$38.88.

Kinross Gold Stock Performance

The business 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 debt-to-equity ratio of 18.81, a current ratio of 1.61 and a quick ratio of 1.11. The firm has a market cap of C$48.65 billion, a PE ratio of 28.18, a PEG ratio of -0.60 and a beta of 1.27.

Kinross Gold (TSE:K) (NYSE:KGC) last released its earnings results 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 company had revenue of C$2.51 billion for the quarter. Equities 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.