Kinross Gold (TSE:K) Reaches New 1-Year High Following Dividend Announcement

Shares of Kinross Gold Co. (TSE:K) (NYSE:KGC) hit a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as C$9.84 and last traded at C$9.81, with a volume of 2039987 shares. The stock had previously closed at C$9.29.

The newly announced dividend which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.23%. Kinross Gold’s dividend payout ratio (DPR) is presently 34.78%.

Analyst Upgrades and Downgrades

Several research firms recently commented on K. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Stifel Nicolaus raised their price objective on Kinross Gold from C$9.00 to C$11.50 and gave the company a “buy” rating in a report on Friday, April 19th. Canaccord Genuity Group raised their price objective on Kinross Gold from C$11.00 to C$12.50 in a report on Tuesday, April 23rd. Finally, Eight Capital lifted their price target on Kinross Gold from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Buy” and an average price target of C$10.70.

Kinross Gold Price Performance

The stock has a market capitalization of C$11.99 billion, a price-to-earnings ratio of 21.20, a PEG ratio of -0.60 and a beta of 1.21. The company has a debt-to-equity ratio of 36.54, a quick ratio of 1.11 and a current ratio of 2.63. The company has a 50 day moving average of C$8.32 and a 200 day moving average of C$7.78.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings data on Wednesday, February 14th. The company reported C$0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.12 by C$0.03. Kinross Gold had a return on equity of 6.88% and a net margin of 9.82%. The business had revenue of C$1.52 billion during the quarter, compared to analysts’ expectations of C$1.24 billion. As a group, equities research analysts anticipate that Kinross Gold Co. will post 0.4605193 EPS for the current year.

Insider Transactions at Kinross Gold

In related news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$4.93, for a total value of C$144,508.16. In other Kinross Gold news, Senior Officer Michiel Van Akkooi sold 62,479 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$6.70, for a total transaction of C$418,609.30. Following the transaction, the insider now owns 3 shares of the company’s stock, valued at approximately C$20.10. Also, Senior Officer Nathan M. Longenecker sold 29,312 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of C$4.93, for a total transaction of C$144,508.16. In the last three months, insiders sold 143,621 shares of company stock valued at $893,873. Corporate insiders own 0.26% of the company’s stock.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.