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

Kinross Gold Co. (TSE:K) (NYSE:KGC)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$45.27 and last traded at C$45.19, with a volume of 516972 shares traded. The stock had previously closed at C$43.45.

Wall Street Analyst Weigh In

A number of research firms recently commented on K. Canaccord Genuity Group boosted their price target on Kinross Gold from C$29.50 to C$37.00 in a report on Thursday, October 2nd. Desjardins set a C$44.00 price objective on shares of 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. Finally, National Bankshares raised their target price 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. Four research 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$38.88.

Kinross Gold Stock Performance

The firm’s 50 day moving average is C$38.36 and its 200-day moving average is C$31.98. The stock has a market capitalization of C$55.89 billion, a price-to-earnings ratio of 32.38, a PEG ratio of -0.60 and a beta of 1.27. The company has a debt-to-equity ratio of 18.81, a quick ratio of 1.11 and a current ratio of 1.61.

Kinross Gold (TSE:K) (NYSE:KGC) last released its quarterly earnings results on Tuesday, November 4th. The company reported C$0.44 EPS for the quarter. The company had revenue of C$2.51 billion for the quarter. Kinross Gold had a net margin of 15.23% and a return on equity of 11.72%. Analysts forecast that Kinross Gold Co. will post 1.0071259 earnings per share for the current fiscal year.

About Kinross Gold

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.