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

Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$17.63 and last traded at C$17.25, with a volume of 453133 shares changing hands. The stock had previously closed at C$16.97.

Analysts Set New Price Targets

Several equities research analysts have commented on K shares. National Bankshares upped their target price on shares of Kinross Gold from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research note on Tuesday. Stifel Nicolaus upped their price objective on shares of Kinross Gold from C$14.50 to C$18.00 in a research report on Monday, October 21st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$17.10.

Kinross Gold Stock Down 0.5 %

The stock has a market capitalization of C$21.19 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of -0.60 and a beta of 1.24. The company has a debt-to-equity ratio of 31.89, a quick ratio of 1.11 and a current ratio of 1.27. The firm’s fifty day simple moving average is C$14.78 and its 200 day simple moving average is C$13.65.

Insider Buying and Selling

In related news, Senior Officer Geoffrey Peters Gold sold 100,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$14.22, for a total transaction of C$1,421,710.00. Also, Director George Nickolas Paspalas bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of C$13.79 per share, with a total value of C$68,950.00. Insiders have sold a total of 1,408,122 shares of company stock worth $19,734,883 over the last ninety days. Company insiders own 0.26% of the company’s stock.

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.