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

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price reached a new 52-week high during mid-day trading 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

A number of research firms recently weighed in on K. 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 increased their price objective on shares of Kinross Gold from C$46.00 to C$50.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Canaccord Genuity Group lifted their target price on Kinross Gold from C$29.50 to C$37.00 in a research note on Thursday, October 2nd. Finally, Cormark downgraded Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$38.88.

Kinross Gold Trading 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 company has a market capitalization of C$62.67 billion, a PE ratio of 36.31, a P/E/G ratio of -0.60 and a beta of 1.27. The business has a fifty day moving average price of C$40.51 and a 200 day moving average price of C$33.51.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its quarterly 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 firm had revenue of C$2.51 billion for the quarter. Analysts expect that Kinross Gold Co. will post 1.0071259 EPS for the current fiscal 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.