Kinross Gold (TSE:K) Reaches New 12-Month High Following Analyst Upgrade

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s share price reached a new 52-week high during mid-day trading on Friday after Desjardins upgraded the stock to a moderate buy rating. The stock traded as high as C$39.57 and last traded at C$39.28, with a volume of 1592946 shares traded. The stock had previously closed at C$38.35.

A number of other research analysts have also recently commented on K. UBS Group upgraded Kinross Gold to a “strong-buy” rating in a research note on Monday, August 4th. Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. National Bankshares lifted their price objective on Kinross Gold from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Canaccord Genuity Group upped their target price on Kinross Gold from C$29.50 to C$37.00 in a research report on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$33.38.

Kinross Gold Stock Performance

The company has a 50 day moving average price of C$34.72 and a 200-day moving average price of C$27.62. The company has a quick ratio of 1.11, a current ratio of 1.61 and a debt-to-equity ratio of 18.81. The company has a market cap of C$47.54 billion, a P/E ratio of 27.54, a PEG ratio of -0.60 and a beta of 1.21.

Kinross Gold (TSE:K) (NYSE:KGC) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C$0.44 earnings per share (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. Equities 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.